FHA 203k Renovation Loans and Lenders NJ-PA-DE-CT

One of the hardest parts of getting a FHA 203K loan is locating a lender who is knowledgeable and who understands what it takes to get your loan done.  What I have found from doing these loans is that there are plenty of customers out there who want these loans and plenty of customers who are trying to do there research but the true FHA 203k lenders in my area: NJ, PA, DE, CT and MD are few and far between.  So many lenders tout there knowledge and there understanding of what it takes to get a loan done but the truth is many of these lenders are inexperienced in actually closing these loans.

I understand that lenders are now looking for new niches to be able to keep themselves a float in this mortgage environment but the issue lies in the fact the lenders have not been properly trained to “Set the Expectations” with there borrowers.  As you know, or are finding out from reading my blogs, FHA 203k lending is not as simple as a regular loan.  The truth is in this mortgage environment no loan is simple.  What I do for my customers with “Setting the Expectations”, is to give them a clear understanding of what is expected from the:

  • Lender
  • FHA203K Consultant
  • Appraiser
  • Contractors

Each one of these interested parties plays an integral role in the loan process.  I will explain each persons role moving forward in a few more posts in the coming days.  In the meantime- feel free to contact me and I will be happy to walk you through the process and help you with any questions or concerns.

Jeff Onofrio
Village Home Mortgage

FHA 203K Home Renovation Lending

Office 856-505-6717

jonofrio@village-capital.com

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