If you’re interested in the 203k loan and would like to know what additional costs or fees are involved in comparison to other FHA or Conventional loans this may help you.
From: http://ping.fm/OE7LK
Thursday, December 23, 2010
Thursday, October 14, 2010
New! 203K Mortgage Lender Directory
Have you been looking for a 203K Lender in your area?
203K Mortgage Lender has just launched our National Directory of 203K Lenders!
So if you have been looking for a 203K lender go ahead and check it out.
Friday, April 23, 2010
Beware! No Termite License Can Be a Terminator!
[caption id="attachment_430" align="alignleft" width="300" caption="No termite license can terminate the deal!"]
[/caption]
Recently a costly mistake happened that I thought would be a good idea to share with R.E agents, Sellers and Buyers. As an FHA 203k loan originator I am use to dealing with lots of moving parts and working with all those involved in the transaction. Recently though, to my surprise a transaction fell through that was already approved and over 30 days into the deal. So why did this deal crash? Because it was found out that the person who did the termite inspection was not licensed at the time of the inspection.
Wow!!! That was a first for me but never the less an easy solution. These were my options:
[/caption]Recently a costly mistake happened that I thought would be a good idea to share with R.E agents, Sellers and Buyers. As an FHA 203k loan originator I am use to dealing with lots of moving parts and working with all those involved in the transaction. Recently though, to my surprise a transaction fell through that was already approved and over 30 days into the deal. So why did this deal crash? Because it was found out that the person who did the termite inspection was not licensed at the time of the inspection.
Wow!!! That was a first for me but never the less an easy solution. These were my options:
FHA 203K Tips - Contractors Bid and Work Write Ups
Contractors Bids
When you’re getting bids from contractors make sure the bid has a good description of the work to be done and a cost breakdown of the materials and labor involved.
If you receive a bid that is vague (lacking work details, labor and material breakdown) it will delay your loan so a clearly written out estimate would avoid any misunderstandings on what is expected and what is involved.
Here a sample of what you should be looking for when receiving a Bid from Contractor.
When you’re getting bids from contractors make sure the bid has a good description of the work to be done and a cost breakdown of the materials and labor involved.
If you receive a bid that is vague (lacking work details, labor and material breakdown) it will delay your loan so a clearly written out estimate would avoid any misunderstandings on what is expected and what is involved.
Here a sample of what you should be looking for when receiving a Bid from Contractor.
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