Tag Archives: 203k loan

Houzz.com Gives Southern California Home Remodeling And Decor Ideas

Houzz.com gives inspiration for Southern California home remodeling ideas and homeowners throughout the U.S.  This website is chocked full of hundreds of remodeling photos for each room of the house. There’s a nice mobile app that goes with it, and even an area where you can get quotes for the work you want done.  But remember not […]

Which Home Improvements Give You The Most Bang For Your Buck?

Which Remodeling Projects Give You The Most Bang For Your Buck?  Whether you’re thinking of doing remodeling in Simi Valley or Thousand Oaks, or a rehab home loan in Los Angeles County, people want to know, how much will their project will increase the value of their home? Remodeling Magazine has written an article for […]

203k Loans Are To Be Relevant For The Next Decade. Why?

    Here’s an interesting thought on the 203k loan. I was reading 203k contractors.com owner, Paul Weldon’s LinkedIn article and he brought up a good point about the Silent Generation or otherwise known as the Greatest Generation who were born in the years 1924-1942.  There are still many existing homeowners within this generation. But let’s face facts.  When these […]

A 203k Loan Is Still Relavent In The 2014 Real Estate Market

  Foreclosure sales are at a 5 year low right now, home prices are creeping and the home equity loan market is waking up from a long slumber, but does that mean that the 203k loan/renovation home loan is no longer needed? Absolutely not!  There are always going to be homes out there that have […]

203k Loan Problems And How To Avoid Them

A 203k loan can incur problems and are not cookie cutter loans by any means.  They have issues that are unique that other FHA or conventional loans do not have. As you can see from the picture above, permit and municipality issues cause the greatest number of 203k loan problems since the city/municipality may not allow […]

Guest Columnist: How A HUD Consultant’s Inspection Differs From A Standard Home Inspection

    How Does a HUD 203k Loan Inspection Differ from a Standard Home Inspection? When homeowners ask me if my inspection as a 203k loan consultant can take the place of a standard home inspection, I usually tell them that is does not.  There are several reasons it doesn’t, but the main one is […]

How To Qualify For A 203k Loan

Pic Credit to Digitalart   How to qualify for a 203k loan. A 203k loan isn’t any more difficult to qualify for a regular FHA loan or conventional loan.  You have to give the same income, asset and liability documentation and as long as you have at least a 3.5% down payment you can be […]

Using the 203k Loan For Multiple Unit Properties

  Yet another way to use the 203k loan, for multiple unit properties. A home buyer can purchase and remodel up to a four unit building as long as it is to be owner occupied. Again no investors allowed. The FHA 203k maximum loan limits on units is higher than for a single family unit, […]

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 […]

Can The 203k Loan Be Used For Conventional Financing?

Pic credit to jscreationz Can the 203k Loan Be used For Conventional Financing?The quick answer is no.  The 203k loan is an FHA loan product and can not be used for conventional loan financing. There are other financing options for conventional financing such as the FNMA Homepath Renovation loan.  The 203k loan is basically a modified […]