web analytics

Archive for FHA

Checklist for a Trouble-Free Home

Want to enjoy a home with a minimum of hassles? The good folks at DIY Network have assembled a checklist for you. http://www.diynetwork.com/how-to/maintenance-and-repair/repairing/checklist-for-a-trouble-free-home  

Continue reading »

Understanding the Specification of Repairs (SOR)

FHA 203k Work Writeup – Specification of Repairs (SOR) It is imperative for the customer, Realtor and general contractor to understand the importance of the Specification of Repairs.  Unlike the bid itself from the contractor, this document is attached to the appraisal report and presented to the appraiser to assist in determining the value and […]

Continue reading »

How come more people don’t use FHA 203k loans?

Knowledge & Experience Needed! How come more Realtors and customers don’t use FHA 203k loans?  It’s a great question! The answer really lies in the fact that most lenders (in house mortgage companies for the Realtors) don’t do the FHA 203k loan, or just don’t do it well. Secondly, Realtors have fear about the FHA 203k loan because […]

Continue reading »

What’s the downside of FHA 203k mortgages?

So, I get questions all the time about this, and people always tell me, “Jeff, everything sounds great about FHA 203k mortgages, …sounds like it’s the perfect loan for me…it does everything that I want it to do, BUT there can’t be the perfect loan- there has to be something wrong!”  And you’re right- maybe not so […]

Continue reading »

Weather Conditions

We get A LOT questions that come in all the time and we try to answer as many of them as we can in blog posts so future customers will be able to see these posts and potentially have their questions answered up front. Weather Conditions One of our most recent questions was from a client in New Hampshire.  The customer had […]

Continue reading »

FHA 203k Mortgages & Multi-Unit Family Properties

Another Great Use! Buying and rehabbing a multi-family unit property can be done using the FHA 203k loan.  I’ve done a few of these loans and they are absolutely great!  I’m currently doing one right now — it’s a four-unit property and it’s a big job. The FHA 203k loan limits, which you can check out here, are much higher as […]

Continue reading »

FHA 203k Contractors: Are there any certified contractors?

There’s a common misconception that contractors need to be certified in order to participate in FHA 203k loans.  This isn’t true!  There is NO actual official 203k training process that is certified or approved by HUD or FHA. We make sure you’re going with reputable contractors. The way we determine which contractors are going to be able to participate in FHA 203k loans is by: […]

Continue reading »

What is an FHA 203k mortgage?

What exactly is an FHA 203k mortgage? An FHA 203k mortgage is essentially a regular FHA mortgage.  However, it has a special component which is an escrow account that allows the customer to be able to purchase or refinance a property and rehabilitate or renovate that said property.  This little piece that’s attached to the loan allows the customer to be able to […]

Continue reading »

Common Misconceptions FHA 203k Rehab Mortgages

There’s some really big misconceptions regarding the FHA 203k mortgage, we’re going to talk about a few here. The first one is that the FHA 203k rehab mortgage is hard. It’s not! This isn’t rocket science guys, it’s really not that hard. The truth is the program really comes down to the people that are […]

Continue reading »

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

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 […]

Continue reading »