Mike's 203k Blog

HUD is coming through againLow-Cost AreaThe FHA national low-cost area mortgage limits, which are set at 65 percent of the national conforming limit of $806,500 for a one-unit Property, are, by property unit number, as follows:• One-unit: $524,225• Two-unit: $671,200 • Three-unit: $811,275• Four-...

Why should a home inspector also become an FHA 203k consultant?Becoming an FHA 203k consultant is a strategic move for a home inspector, offering several advantages: Diversification of Services: By adding FHA 203k consulting to their portfolio, home inspectors can offer a broader range of service...

Everyone wants attention—me, too. Would you like to see a few more photos, mostly of before-and-after scenes of renovated homes and small income units? Check out our Pinterest Page. Be sure to like and follow us so you get the next photos before everyone else. There are some pretty neat fences th...

My appraisal came in too low?It can be disappointing if your home appraisal is lower than the purchase price you agreed to with the seller. However, there are a few things you can do in this situation.Renegotiate the price with the sellerOne option is to try to renegotiate the purchase price with...

I have the need of a great home inspector in the Boise ID area.We have 203k projects backing up and need a good home inspector or contractor to step up and become a 203k consultant. If you know of a good home inspector or contractor looking to increase their business, please provide their contact...

I was about 15 years old when I was in the backyard playing when my father screamed bloody murder... I could imagine what happened. When I opened the back door, soap bubbles were up to my chest high and pouring out the door. My dad isn't one to over react but he sure did that day. "What do we do?...

I thought you all might enjoy something funny. Our dog is a 7-lb Maltipoo named "Samantha Little Dog," which is her Chaktah Indian name. See if you can spot her. She has a small ball; I throw it and try to hit a hollow space; she gets up there, gives me a dirty look, and then dives into the hole....

Finding 20-40 203k Projects in 60 Days: A Strategic ApproachWhile it's a significant goal, securing 20-40 203k projects within 60 days is achievable with a focused and organized approach. Here's a breakdown of steps to help you reach this objective:1. Define Your Target Market Identify your ideal...

I have been doing renovation loan consulting for 30 years now and it baffles me how many Realtors don't have a clue. We made an offer on a home and they want to know how you are going to finance it... none of their business, but they all seem to ask. I told them we'll be putting $100,000 down and...

New Orleans is a hot bed for renovation loansActually every city in America is a treasure trove for renovation lending. Peggy and I just got back from New Orleans where we had a ball. This is the French Quarter nears where we stayed. Look closely at the gutters then those two pipes, one on each s...