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 [...]
Tag Archives: buying a home in as-is condition
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
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Posted in 203k loan news
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Also tagged 203k loan, 203k loans, 203k Streamline
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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
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Posted in 203k loan news, 203k Streamline, buying a home in as-is condition, remodeling home loan
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Also tagged 203k loan, 203k loans, 203k streamline loan, first time home buyer
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Comments (9)
Buying A Home In As-Is Condition
April 13, 2011 – 8:23 pm
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 [...]
By Kevin Walton
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Posted in 203k loan news, 203k Streamline, buying a home in as-is condition, remodeling home loan
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Also tagged 203k loan, 203k Streamline
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Comments (13)
The 203k loan can reconvert illegal garages.
September 3, 2010 – 8:39 pm
There was a property a few doors down from me that sat on the market for over 6 months. The property was a foreclosure that had an illegal garage and bedroom conversion (done without permits). The carport in the backyard looked like it had been through a tornado, so it was of no value. I [...]
By Kevin Walton
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Posted in 203k loan news
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Also tagged 203k loan, 203k Streamline, illegal garage, illegal garage conversion
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Comments (1)
