Today, we love being connected to the Internet. Whether we’re at work or play, being connected with friends and family is practically a necessity. In addition, many of us want to manage our finances and our home lives online as much as possible. For this reason and many more, we are offering the opportunity to manage 203K HUD loans online – from any device you own. How can this help? Let’s take a look at some of the reasons why managing these loans online can benefit everyone involved in the transaction…
FHA 203k loans are those offered by FHA (Federal Housing Administration), a government agency. The aim of these loans is to encourage financial institutions to finance seemingly risky mortgages. This loan was also created in order to revitalize neighborhoods and increase home ownership opportunities.
The best part about this software is that you do not have to struggle to manage your 203k project because there is an online program to help you do that. Apart from assisting you to manage your projects, the software can increase your productivity and profitability. This is not your typical software that is available for download and installation. It is a service that is available through the internet. As long as you have a good internet connection, you can use a connected device to access the service from anywhere in the world.
HUD consultants who manage residential rehab projects need to stay on top of every detail 24/7. Every project manager knows that even the best developed rehabilitation plans face potential snags.
Tearing out a basement wall to remediate mold or water damage often reveals unexpected — and unbudgeted — wiring and plumbing issues. Replacing inefficient windows could lead to more extensive build-out to accommodate modifications necessary for varied sizes, shapes or architectural integrity.
It is the wish of every realtor and estate agent to make their operations efficient. This is the very reason that the 203K Professional was developed. This is software that helps in the cost analysis of FHA 203K loan. One notable aspect of this great software is its simplicity despite very advanced features. This software is available online by signing up on the website. With 203K Professional, real estate agents and realtors get a chance to update their 203K projects and print their reports from the comfort of their homes or office.
What We Offer
Easy 203K Professional is not a downloadable software that will take up critical space on your computer. Rather our service is an entirely internet-based management tool that can be accessed from any computer or device with an internet connection. Easy 203K Professional can help you with many HUD project related tasks.
-Create repair and restoration check lists
-Store values for upcoming projects
-Print forms needed by lenders, contractors and buyers
-Generate reports at the jobsite
-Nightly backups of all your data
These are just a few of the features that this service has to offer.
A Popular Program
We got involved in the HUD 203k Loan market originally at the request of our banker. As a successful home builder and remodeling firm, they asked us to partner with a neighborhood group focused on rehabilitating a section of a long-ignored neighborhood. Finding this a worthwhile and profitable endeavor, we have subsequently undertaken several other projects and intend to do a number of others.
While this is a program that works well, it is, nonetheless, a government-backed initiative that requires considerable paperwork and coordination. In fact, our team has found the actual repairs and rehab work are the easy part of each project compared to dealing with the:
Multiple forms required
Applying for a 203K loan can be one of the best methods home buyers can use to invest in a piece of property. They have been designed to help prospective buyers take a risk on a property that has become damaged over time. The loan itself may also provide these buyers with the funds that they need to repair the damage itself. This could allow the home to be restored and potentially even resold by the owner on the market for a higher price.
The 203K loan helps individuals to acquire a house that needs some repairs and has minimal down payment requirements. If you are a professional, a contractor or homeowner that gives out these loans to qualified individuals, you need to get the best 203K Professional Software. This software will help you be able to manage repairs, generate forms, costs, and prepare loan documents. Below are guidelines for choosing reliable 203 K Professional Software.
Rehabilitation Mortgageser 1
General D HOC Reference Guide
203k Rehabilitation Mortgages
Appraisal & Property Requirements
The Section 203(k) program is the Department’s primary program of General or the rehabilitation and repair of single-family properties. The Section 203(k) program is the Department’s primary proforma for the rehabilitation and repair of single-family properties. The program allows the borrower to get just one mortgage loan, at a long-term fixed or adjustable rate, to finance or refinance both the acquisition and the rehabilitation. Please see: HUD Handbook 4240.4 rev-2 and 4150.2 Appendix B-Please see: HUD Handbook 4240.4 and 4150.2 Appendix B-1 for additional information. See Mortgagee Letter 2005-50 for information on the Streamline 203(k) process. The 203(k) loan program may only be used condominium units located within structures (buildings) containing no more than 4 units. The repairs involving a condominium unit are limited to the interior space of the unit. (Cooperatives are not eligible for 203(k) mortgage insurance). Also see: HUD Form 92700 203(k) Maximum Mortgage Worksheet (2/06).