Archive › 203K Lenders

12 Topics of Conversation BEFORE Saying “You’re Hired”!

Whether you can whip up a bouillabaisse with your eyes closed or have enough take-out menus to paper the living room, at some point, you’ll have to face the sink. Take this kitchen quiz. GO HERE        

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203(k) Loan Roles and Responsibility Chart

There are many players on the 203(k) Team. Browse the chart below and see what task each member is responsible for. Note that the two main team members (ones with the most responsibility) are the Lender and the Client (they have the most X marks in each type loan). Also note that the Consultant’s role […]

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Gary Smith - Home Inspector - Picture of House on Money

5 Most Important Elements of the FHA 203(k) Bid (video)

Would you order a pizza without naming the toppings? Would you plan a trip without a road map (or at least an iPhone with a mapping feature)? Would you remodel your home and allow the contractor to make choose the design? If you’re considering working with the FHA 203(k) Loan there are 5 important elements […]

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3 Land Mines to Avoid When Moving a House Using an FHA 203(k)

Moving a house to vacant land. An older home is being either torn down or moved. Your client has chosen to purchase the house and have it moved. She wants to finance the deal with an FHA 203(k) Mortgage. The borrower owns the land and has an agreement with house mover to relocate the building. The […]

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Remodel My Houzz

Houzz is the leading online platform for home remodeling and design, providing people with everything they need to improve their homes from start to finish – online or from a mobile device. From decorating a room to building a custom home, Houzz connects millions of homeowners, home design enthusiasts and home improvement professionals across the […]

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Investor 203(k) Introduced in the House

This week, Congressman Howard “Buck” McKeon (R-CA 25) and Congressman Scott Peters (D- CA 52) introduced H.R. 1997, the Communities Achieving Sustainability Act (CASA). CASA Authorizes the Housing Urban Development (HUD) to make 203k loans to small investors for a 2-year period. This legislation will help revitalize communities (especially those hurt most by the recent […]

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203(k) Loan Requirements Disclosure

Borrower – You’ll be asked to sign quite a few documents on the road to residential rehab. The following are borrower acknowledgements, instructions and disclosures for the FHA 203(k) Loan. The borrower and the lender are asked to sign HUD-92700-A prior to obtaining the loan. If you have, in fact, not seen this info, ask your […]

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Remodeling at the Speed of Trust

Last week, for the fun of it, I Googled how to hire a contractor. I discovered a couple of fascinating facts. “How to hire a contractor” comes directly between “How to hire a bill collector” and “How to hire a hit man”, and Kim Kardashian is only Googled three times more than “How to hire a contractor”

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