Tag Archives: 203k loans

203K Loan HUD Consultants and General Contractor Conflicts

January 4, 2012 – 7:33 pm

Quick tip on 203k loans:  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 who keeps the General Contractor in check. I’ve ran [...]

By Kevin Walton | Posted in 203k contractors, 203k loan news, buying a home in as-is condition, Submitting an offer to buy with a 203k | Also tagged , , , , | Comments (0)

December 6, 2011 – 6:20 am

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 [...]

By Kevin Walton | Posted in 203k loan news | Also tagged , , | Comments (0)

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

June 15, 2011 – 4:44 pm

       The 203k loan is like taboo to some Realtors.  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 [...]

By Kevin Walton | Posted in 203k loan news, 203k Streamline, buying a home in as-is condition, remodeling home loan | Also tagged , , , | Comments (9)

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

May 24, 2011 – 7:47 pm

 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 [...]

By Kevin Walton | Posted in 203k contractors, 203k loan news, 203k Streamline, Do It Yourself Repairs | Also tagged , , | Comments (8)