Mike's 203k Blog

4" OG or Oh Gee as some call it and it comes in several sizes but has a similar shape. I've seen 4", 5" and 6"  1/2 Round Gutter  5 1/4" Fascia Gutter is typically for use on a roof that has 2x4 rafters as when they are cut at a 4:12 pitch the result is a 5 1/4" edge as you can see it come sin tw...

My 203k consultant isn't doing a good job of managing the contractor!Well, I don't know how to put this any other way but "it isn't the consultant's job to manage the contractor" so he or she shouldn't be expected to do that.1) The consultant is a consultant when first hired. They will consult wi...

Self Help under the FHA 203k loan guarantee program Yes, there is a provision for "self help" under the FHA 203k program but they aren't carte blanc. Some lenders allow self help ONLY if the borrower is a licensed contractor in the state where the project is located. Many lenders DO NOT ALLOW SEL...

Would you believe I'm about to turn 67 years old in a few weeks? I cannot believe it. My mother passed away at 54 years of age. Let's get back to the topic of today. We have an outstanding loan officer who is specializing in the 203K and located in the Roseville California area. She is Sheri McLa...

203k consultant and lender software version update Our latest update has just been uploaded to our website for all lender and consultant users. Please go to the site, if you are already using v11 then this is a free upgrade.  Thank you for your continued support. We appreciate your business. If y...

FHA 203k - HUD is getting back to strict adherence to the guideline This may be good or bad for you and your client. It is impacting one client that I'm aware of right now on a commercial building that he wants to turn into a residential use or mixed use building.  The guideline has always been v...

Sewer lateral inspections are an everyday occurrence and that comes part and parcel with a $4500 refundable deposit that each buyer must put in play to insure the work gets completed in a timely manner. This is a requirement on every sale. It is a pretty simple test where a camera is run through ...

Black sand beaches in Pacifica CA FHA 203k project in Pacifica brought me to this beautiful black sand beach   I was working on a home in Pacifica that is a rebuild from the foundation up when we finished the draw inspection... just demo was completed, we went to lunch at the beach and though I h...

FHA 203k lender in Moss Beach and Half Moon Bay Lots of pest work on this home was needed to get it back in good shape.This home was tented, fumigated, then stripped of it's stucco and wood siding exterior to expose the full extent of the damage.Now not all 203k projects are this invasive but we...

This is a conventional loan product that is available to owner occupants and investors.        We have been consulting and providing final draw inspection services for HomeStyle Renovation loans since the late 1990’s. This is an interesting loan product as it is available for owner occupants and ...