Tag Archives: 203k Streamline

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 […]

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 […]

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 […]

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 […]

Call Me With Any Renovation Home Loans Question!

Kevin Walton Best Capital Funding 203k Loan Specialist 805-276-1942