FHA 203k successful experience


Don’t know if anyone out there is considering using an FHA 203k loan or looking for a good person to do one of these. We just went through the process of buying and renovating using the 203k. We had our last inspection today! done! and so pretty.

There wasn’t that much more paperwork, and the process went extremely smoothly–no major hassles at all.

We used Barry Koven at Wells Fargo, and he was very helpful, organized, and kept things moving. Can’t recommend him enough.

Categories: Mortgage
By egut | 11/11/2010 3:39 PM | Comment

FHA Appraisal Results


-Wanted to follow up on my post from a week or so ago re: FHA appraisal. Ours was done last week. The appraiser was at the house for about 30 minutes and appraised it at the purchase price w/ no repairs needed. Phew. It was a very cut and dry experience. We’d been nervous as the house needs renovation, and we didn’t want that to get in the way of closing. The review process was not as scary as we thought. You all were right. Thanks.

Categories: Appraisals
By egut | 08/02/2009 10:03 PM | Comment

FHA Appraisal Process


We’re looking at purchasing a 2-family home. The offer’s been accepted, we’ve had the inspection done and negotiated issues, getting a little off price. We’re going with a FHA loan so once the contract’s signed the bank gets sends in an appraiser. The appraiser may require repairs before finalizing the loan. Like so many, the home is old. It needs typical updating but it’s in livable shape–upgrading older but functioning plumbing, old but non-leaking roof, typical stuff like old tile, some missing window screens, etc. Does anyone have first hand experience with the FHA appraisal? What can one expect?

Categories: Mortgage
By egut | 07/21/2009 10:46 AM | Comment