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Answers (11)
- Andrew Adams, "203K Specialist"
- Contributions:9349
Justin,
You need to find a better source for 203K loans.
You need to find a better source for 203K loans.
- David Nezri, "Direct Lender"
- Contributions:265
Put in a loan rquest on Zillow.
- Justin Kennedy
- Contributions:692
Andrew, i can assure you no 20k revenue. that 203k pricing you just refferanced is better than 30 day 203b pricing at 4 wholesale companys i just checked. 203k wholesaler link
- Andrew Adams, "203K Specialist"
- Contributions:9349
The OP is in New Jersey but for fun I priced it out in Sacramento CA and at 5.5% with a point the lender/broker could get 2.97% + the point...Almost 4 points in CA. In my opinion that is too much for a $500,000 K loan...20K in gross revenue!
- Justin Kennedy
- Contributions:692
in CA wholesale 203k is 5.5 with one point.
- Andrew Adams, "203K Specialist"
- Contributions:9349
5.25% is priced out at 102.3...I would offer this rate today with a lender credit of .3%. No points...5.5% with a point is way too high!
A point up front is not required by HUD/FHA it could be by the lender you are working with and if they are charging you 5.5% and a point you should find another lender!
A point up front is not required by HUD/FHA it could be by the lender you are working with and if they are charging you 5.5% and a point you should find another lender!
- Nic Netherton, "Colorado Lender"
- Contributions:7219
NO
- Delia Peterson, "Delia Peterson"
- Contributions:99
I'd be happy to share a contact with you I have for 203Ks, shoot me an email for contact info.
- Andrew Adams, "203K Specialist"
- Contributions:9349
5.25%
Looking for 203K rates/points -500K loan, can anyone give me a ballpark? Any lender recommendations
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