Mike Young Team

Updating a home with an FHA 203(k) loan isn’t about chasing HGTV dreams or guessing at renovation costs. It’s about structure, control, and doing the work the right way. The FHA 203(k) allows you to finance the purchase or refinance of a home and the cost of needed repairs into one mortgage. Instead of paying contractors upfront, funds are released in stages through a draw system after work is com...

In this episode, 203k expert Mike Young has his crew explain the critical differences between standard construction payments and the FHA 203(k) "draw" system. Listeners will learn how to navigate HUD Handbook 4000.1 protocols to ensure contractors are paid correctly and on time. Episode Highlights: The Draw Process: Why there are no upfront payments and how to schedule draws based on completed wor...

A 203k Consultant acts as the project manager, inspector, and cost estimator for FHA 203(k) renovation loans. To enter this field, you generally follow these steps: Meet HUD Qualifications: You must meet the requirements outlined in HUD Handbook 4000.1, Section II.A.8.b.xii(C). This typically requires three years of experience as a General Contractor, Home Inspector, Architect, or Engineer. Altern...

When my heating system quit in the middle of winter, I did what every “responsible” homeowner does. I called my home warranty company. After all, I pay them every month. Surely no heat in January counts as an emergency. It didn’t. The earliest appointment they offered was a full week away. Seven days of space heaters, extra blankets, and watching my breath fog up in my own living room. That’s when...