Tag Archives: 203k loan

Realtors And The 203k Loan. Why Do They Dislike It?

The 203k loan is like taboo to some Realtors, they dislike it.  To the 20 year experienced Realtor the 203k loan may be looked at as a loan that is problematic and associated with fraud. Realtors who have been in business for 10 years or more may have never seen the need for the 203k […]

203k Loans Do It Yourself Fix-Its Not Always Allowed

A 203k loan may be alluring to a do it yourself handyman.  You get buy a home in need of repair and get a fixer upper home loan, the 203k loan, and receive funds within the loan to fix up the home or remodel it to your liking. It is within the FHA rules to […]

The Appraisal Came in Low-What Now? This Can Fix The Problem

You are buying a fixer home that needs updating and your home loan is preapproved, you have your proof of funds squared away and than bam….the home doesn’t appraise for the agreed upon purchase price.  So how do you fix a low appraisal problem? The seller is willing to renegotiate and meet you halfway on the difference […]

Buying A Home In As-Is Condition

Buying a home in as-is condition to many home buyers is scary thing.  Many people want homes in move in ready condition and make things simple.  But what if you get a good value on an as-is property?  Maybe there’s a broken window, or missing toilets or holes in the wall?  A lender will not normally […]

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 Investor 203k. It May Be Coming Back In The Future.

If you are an investor and have been buying homes cash and using your own money to fix up homes and resell them, you know that if you have multiple projects going at one time, that this can be trying. What if you could use someone else’s money to do this? Would it reduce your […]

Need a remodeling home loan? Think 203k loan.

At a networking event a contractor told me that his business was way down this year because obtaining financing or an equity loan is so difficult these days.  He still gets big jobs like room additions but the smaller jobs that keep him afloat between the big jobs is almost non-existent. The contractor had never heard of the […]

Realtors Battling Sellers Over Fixits-Why?

I viewed a hilarious Realtor blog video today that I had to share. The Realtor was fired by the seller because their home didn’t sell. The Realtor went on to say that he supplied the seller with a list of fixits. The seller didn’t do any of them and their home didn’t sell in its […]

How to Sell a Home with Broken Windows

The ever increasing number of foreclosure and short sale properties hitting the market are causing some problems when it comes to selling. Some of these properties have some issues that appear minor but become major issues when it comes to a lender allowing a loan to be put on the property. The property may not […]

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 […]