Mike's 203k Blog

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Home Inspector - 203kOnLine.com, covering California & most other states - S0289
203k loans, the hottest renovation loan product on the market. Offering quick closings on homes that require repairs.
"There's another 203k" was a common statement from my wife for over twenty years as we were riding around the country. It didn't make any difference what state we were in if there was an obvious fixer she would be sure to point it out.  Why then is it so hard for Realtors, people in the business ...
This is always interesting stuff for me. The windows surprised me a bit but most of this is basic stuff just good to see it on paper and it can help you make decisions on what you should upgrade as you get your new home. - 2015 Cost Versus Value Report for Home Remodeling Projects in Phoenix - Ea...
FHA 203k training and HomeStyle® Renovation Mortgage training We have been training consultants, lenders, investors, and Realtors for over twenty years. Why is this post coming out? Because so many of you think this is a new program. It actually has been around since 1961. We have the #1 rated so...
FHA 203k is just another renovation loan and it works allot like the the HomeStyle Renovation Mortgage by FannieMae. What is the major difference? Simply PMI - Private Mortgage Insurance. If you have good credit and are putting 20% or more down on the property there is NO PMI with the FannieMae r...
We have permission from CCR to reprint this information I thought may be of value to some of you thinking of doing larger construction projects CCR Provides 2nd Mortgage Construction Financing - Behind FHA 203K 1st Mortgage  California Construction and Renovations ("CCR"), one of the largest 203K...
Many areas of the country get a bit of snow and the homes located in those areas need the FHA 203k too.  I must have driven by this one house 200 times on my way to other projects over a period of a few years and watched this home in need of repair every time I went by. It stood out like a sore t...
Home inspectors and 203k consultants quite often get told this... I need my report back tomorrow... so we can close in 45 days. LOL I have one client send an order to us yesterday, the client wanted us to see it next Friday a week away... the lender wanted it sooner so we set it up for a Saturday...
What can I do when my appraisal came in too low? 1) You may be paying too much for the property - renegotiate the purchase price. 2) If it is less than 10% low you might consider switching to an FHA 203k loan, even a streamlined k, or "limited 203k" which it is about to be called will gain you up...
Renovation mortgages are simply new mortgage loans that include the renovation funds to make those needed repairs. It can be for a purchase or a refinance. The FannieMae  HomeStyle® Renovation Mortgage is one of the most popular along with the FHA 203k loan program for doing this.    Why would yo...
Draw inspections for 203k loans have always made me wonder what is going through the minds of the contractors who ask for money when they know the work isn't completed. Here is a roof that I was told was complete and they wanted 100% of the draw amount. When he called for the draw inspection I as...

Mike Young

FHA 203k Consultant 707-812-7668
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