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.
The "little yellow house" in Orinda CA - a 203k renovation project Hello Friends (from James), I am pleased to announce that we will be hosting an educational, nonprofit, fundraising event in the large auditorium of the Orinda Movie Theater on March 19th, 2015. The event will begin with an introd...
Award winning 203k Software for consultants and lenders We received an interesting call the other day from a competitor who was trying to sell their software to one of my staff consultants. We learned all kinds of stuff about our software and what it couldn't do. We had to laugh because in every ...
This one gets me all the time. You forgot the case number, here it is please insert it on each page of the report. I'm surprised you forgot it with as many of these as you have done.LMAO, the case number is ordered after our report is completed and turned in. It is ordered when the order the appr...
What is your consultation fee? That is nearly always a question that gets asked. Well, it is on our order form to make it easy for you to fill out your GFE - Good Faith Estimate of fees and charges. We have attempted to make it so easy and efficient. If you are a lender placing the order and you ...
Sure we can. In fact this week we added another four or five.. All of them went something like this -  I get a call and they ask to be on our list, I tell them to send me an email with all of their contact information and they all must hear something I didn't say as they ALL sent  Name Company na...
To each his own. I see this all the time where the buyer and a complete different idea of what "looks good" on a home. Did you know you can do a streamlined k (soon to be renamed Limited 203k) and just do painting if that is all that it needs? The Limited 203k (we may as well start getting used t...
How can I close my renovation loan faster? What is it that takes a 203k or renovation loan so long to close escrow? The short answer is that everyone in the transactions is looking at the consultant, emailing and calling, distracting the driver so to speak. It is like a magician, lets take your e...
Can I take an 8-unit building & convert it to 4 units with a 203k? This is one of the unique aspects of a 203k loan. You can take 5, 6, 7, and 8 unit buildings which are considered "Commercial" buildings and convert them to one to four residential units under this program. Years ago we had such a...
Buying a home with the FHA 203k in Fort Pierce FL or anywhere else for that matter can be smooth or a nightmare. It is mostly attitude. The attitude of the borrower. Nightmares typically happen when they try to do it themselves. I'm referring to the buyer again. The buyer wants to cut the cost to...
That has been a question for years that keeps cropping up.  This past year I had one lender who kept finding these properties where the foundation is all that remained. In one case there was a barn they people wanted to convert to a living area. Some of these old barns never had a foundation whic...

Mike Young

FHA 203k Consultant 707-812-7668
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