FHA 203k loan limits vary from county to county throughout the different states for 1 to 4 unit properties and are the same for both FHA 203K and regular FHA purchase or refinance loans.
To find out what those limits are in your area try this free tool to look up the maximum FHA loan limits by entering your zip code.
You can also search & view FHA mortgage limits by state or county at the HUD website using the link below.
https://entp.hud.gov/idapp/html/hicostlook.cfm
Friday, February 11, 2011
Can You Afford to Say No to FHA 203K Borrowers?
This is for all the Real Estate Agents out there!
Today I came across yet another great post encouraging Real Estate Agents to consider those buyers who want to use FHA financing. As a 203K Mortgage Lender I am trying to do my part in spreading the word that FHA Loans have a lot of benefits that the standard Conventional loans don’t. So read on…you may be pleasantly surprised on how far FHA has come.
Today I came across yet another great post encouraging Real Estate Agents to consider those buyers who want to use FHA financing. As a 203K Mortgage Lender I am trying to do my part in spreading the word that FHA Loans have a lot of benefits that the standard Conventional loans don’t. So read on…you may be pleasantly surprised on how far FHA has come.
Wednesday, February 2, 2011
203K Mortgage Lender is Now on Facebook!
You can now find 203K Mortgage Lender on Facebook!
Check out our new custom Facebook page here:
www.facebook.com/fha203kloans
We personally think it’s awesome! But stop by and tell us what you think.
Click the “Like Button if you like what you see and/or if you have found the resources at the 203K Mortgage Lender website helpful and useful in your quest for the FHA 203K Renovation Loan.
If you have any suggestions in regards to our Facebook page or any topics you would like to see discussed on the page or at the 203K Mortgage Lender website feel free to leave your comment.
See you there 8-)
Thursday, December 23, 2010
FHA 203K Closing Costs
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
From: http://ping.fm/OE7LK
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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