Tag Archives: 203k Loan Contract Offer

203K Loan HUD Consultants and General Contractor Conflicts

Quick tip on 203k loans in regards to HUD Consultant and general contractor conflicts:  As a potential home buyer, make sure that the HUD Consultant and the General Contractor who is doing the repairs and upgrades to the property, are not the same person.  The HUD Consultant is supposed to be an independant third party […]

203k Loan Advice, Get A Contractor Bid Before You Write An Offer

In regards to the 203k loan advice, I don’t know everything and I don’t pretend to, but I know more than most.  However lately I’ve been receiving calls from troubled borrowers who have started a 203k loan with another lender and it’s falling apart and they need help keeping their deal together. One of the main issues […]

Structuring An Offer With A 203k Loan

  OK, I’ve heard many reasons why a Realtor or REO lender won’t accept a 203k loan contract offer.  How do we combat this?  We have a qualified homebuyer but their choice of financing is an issue.  The main roadblocks are that the loan takes too long to fund, and that Realtors have heard nightmares about past […]

The 203k Streamline Needs a HUD Consultant.

The 203k Streamline is gaining some steam and increased Realtor acceptance. However, with the increased popularity comes misconceptions. The 203k Streamline is meant for minor cosmetic work and has a cap of $35,000 in repairs, a hombuyer and contractor is all that’s needed……or is it? Any repair amount greater than $35,000 is still possible, but […]