FHA & 203K Consulting Services
A Flexible Home Loan With Your Needs in Mind
The 203K home loan program is an exciting opportunity for home owners and buyers alike, and is backed by the US Government under HUD. This little known program offers consumers greater flexibility and choice in their home loan options. The program allows you, the consumer, to combine a home loan with both, the purchase price of the property, and any renovation costs needed or desired, to bring the home up in value and/or into a desired livable condition.
The 203K loan is not only for depressed neighborhoods . Although it functions well in these neighborhoods, the 203K loan can be used on most any home, in most any neighborhood. You can even move an existing home to a new property that has an existing foundation! Qualifying for the loan might require as little as a 630 credit score, depending on the lender.
Two types of 203K loans exist. The Streamlined or Limited 203K, and The Standard 203K.
- The Streamline or Limited Program may only be used for minor remodeling and non-structural repairs. The Limited 203(k) does not require the use of a 203(k) Consultant, but a Consultant is advised to service, guide, and streamline the process. The total rehabilitation cost must not exceed $35,000 with $0 minimum.
- The Standard 203K Mortgage may be used for remodeling and repairs. This requires a minimum repair cost of $5,000 – $100,000+, to make needed repairs and desired upgrades. (An FHA, 203(k) Consultant is required.)
Refinance your existing loan with a 203K loan
Include those much needed home repairs such as a new roof, HVAC system, electrical systems and even remodeling like an updated kitchen or bathroom.
EEM or Emergency Efficient Mortgages can also be combined with your 203K mortgage, allowing you to add insulation, upgrades to windows and doors, use of solar water heaters and other energy efficient add-on’s; all to make your home more comfortable and less expensive to operate.
Are you a teacher, firefighter, policeman or other service related field? There is a 203K program designed to allow you to purchase of a home for 50% off the listed price. It’s called the Good Neighbor Next Door Program, (GNDP). See this link for details.
I am a buyer considering to purchase a manufactured home. Jack did an outstanding job and was very thorough. I have never bought a manufactured home before and Jack educated me on things to look for. The report contained photos which was excellent because I am able to show photos to my seller on the items we need repaired prior to the purchase. He went on the roof, and crawled under the house; and caught items that I missed. If your looking for a home inspector, I would highly recommend him. I typically dont give reviews or recommendations, but, Jack's service is an exception. It is worth the money spent.
Fairly new to Arizona, Prescott Valley specifically. I've been looking since March for a new home with not much luck. I finally found a place and started the wheels rolling; inspection of a property is very important. I went through home advisory and I'm very pleased with the professional(s) they sent. Very knowledgeable, very on time, went over any problem in a very understandable manner. I would suggest them to anyone in the need.
Jack was everything I was looking and hoping for in an inspector. He and JJ were very thorough in their inspection and spent several hours at the property we are purchasing even though it was only 750 sft. He explained everything to me in a way that I could understand and was very patient with my constant questions. He was willing to drive to our rural location on a weekend so we could be there and I'm so grateful for the peace of mind I felt after his inspection. I would highly recommend. Thanks Jack!
I was impressed because as part of hiring Total Home Inspection for our inspection they gave us a one year membership to Porch. A few days later Porch called me and asked a few questions like if I needed estimates and contractor references for repairs or movers, when I said we were doing it ourselves they gave us a 20% of coupon via text for a moving truck... then they connected me via conference call to an insurance company and I got a quote that was HALF the cost of the lowest quote we had been given so far (and our home is hard to insure because of the fire danger). Porch also gave us coupons for any future repair costs. Porch said they will call when we get closer to moving to help with changing utilities and connect us with someone to move the jacuzzi ... it was surprising and totally first rate customer service! 🙂
Inspector Jack Jackson was a complete professional. He put me at ease to buy my new home. Offered to help when I was settled if I needed anything. Jack told me he was local and I could give him a call anytime. Jack's one of the good guys. Go to him if you need an inspection.
Jack has done two home inspections for us. Very thorough and prompt. We will use his company on our future purchases.
Absolutely great home inspector.
Jack was very professional, he did a very detailed job, I asked him If I could be his shadow and he had no problem with that at all, he would explain to me everything that he found that either should be fixed or minor things that I should pay attention to, It took about 2 1/5 hrs. to complete his inspection. and he gives you a binder with the report of what he inspected and everything is listed as good,fair,poor, the report is very easy to read, and he takes pictures of the things that need special attention. I definitely recommend him and would use him again.
Before selling my property in prescott AZ. I needed to have a home inspection done. I had used Total inspection before for a building inspection and they were great to work with then. Really happy that I chose them to do a home inspection because once again they were great to work with. Trustworthly, professional and honest.
Jack was professional and friendly. He thoroughly answered all of our questions. At the end of the inspection he gave us a binder with a copy of the full report, including color photos. This was extremely helpful! Thanks Jack!