All Posts in Home Purchase

FHA 203k Certified Contractors – where do I find one?

May 13, 2013

The Search Begins….. Finding a certified FHA 203k contractor can be a hard thing to come by- why you ask?  Simple- FHA / HUD does not maintain a database, train contractors, or even approve them to do work.  Finding a contractor to use in the FHA 203k renovation mortgage process is the responsibility of the home owner […]

How Does a HUD 203k Inspection Differ from a Standard Home Inspection?

June 13, 2012

This is a guest post from Steven Laszlo (S0640), FHA 203k consultant and a trained home inspector in California.  I asked Steven if we could put this on our site because this question comes up all the time from home buyers, Realtors and even other loan officers when I train them.  Its an important subject […]

The FHA 203K Mortgage Process

May 14, 2012

 The FHA 203k is a great loan for someone making a purchase or refinancing, and these steps will provide you with a road-map to understanding the process. 1)    The Buyer works with a realtor to find the right property for them, or the owner is ready for a renovation on their existing property. 2)    Get […]

KEY PRODUCT FEATURES OF THE FHA 203(K) Loan

May 7, 2012

Many are surprised to find out that you can use a FHA 203k loan to refinance or purchase a property and roll in the cost of rehabilitation and renovation.  This is one of the great ideas behind the FHA 203k loan.  Frequently, I receive calls from customers stating they don’t have enough equity in their […]

Eligible Improvements Using the FHA 203K Loan

April 26, 2012

Lately I’ve been asked, “what are some allowable improvements when we use the FHA 203k rehab mortgage”?  I’d like to give you some basic information that you can use to help understand how the FHA 203k renovation mortgage works and what is eligible. These are prime times for the FHA 203k program more than ever. […]

FHA 203K Mortgages and First Time Home Buyers

March 22, 2012

It’s important for the first time home buyer to know what the expenses are when they are buying a home.  Many first time buyers get stuck on what the down payment and closing costs are, but they don’t look beyond that.  They need to consider what they may need in addition to those items.  The […]

4-Steps to moving 3 million REO properties with a 203k and other tools

March 3, 2012

This is a great blog post from Vito Simone, a FHA 203k consultant who services the Maryland area.  His contact information is below and his blog can be viewed at http://203kexperts.com/. 4-Steps to moving 3 million REO properties with a 203k and other tools There is NO example of government owned rentals that have proven to […]

FHA 203K…The Contingency Reserve

January 8, 2012

What’s The Contingency Reserve? The Contingency Reserve is something that needs to be addressed because it’s an extremely important part of the FHA 203k loan.  The Contingency Reserve is there for cost overruns- it is a component that is put in place to protect the home buyer or home refinancer in case of additional costs or expenses […]

Have you seen the show “Property Brothers” on HGTV?

January 3, 2012

I got really excited one day when this new show came out called the “Property Brothers.” I swear when I watch the show I think that I may actually be related to these guys in one-way or another. I believe I might be the third brother- the one that nobody knows about- the one that […]

Cherry Hill, NJ Home Buyers being asked to pay upfront lender fees???

August 30, 2011

Recently I have been hearing a disturbing trend of First Time Home Buyers in Cherry Hill, NJ being asked to pay upfront lender fee’s such as an application fee. This is not a requirement and simply should not be paid. I would actually question what type of mortgage lender or broker you are speaking with […]

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