Inspector Michael J. Savage

I'm a:	Real Estate Professional
Company:	MJS Inspections, Inc.
Location:	Plainfield
Phone:	(815) 254-7393

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Inspector Mi…'s Questions (0)

Inspector Mi…'s Answers (19)

Can 203(k) loans be used to rehab a four flat if the owner occupies one of the units?

Asked Tue Jun 24 2008, 17:08 by Carl - Logan Square - Home Buying - 3 answers

Inspector Michael J. Savage answered:

As Greg stated, the 203k can be used on 1-4 unit buildings and the property has to be owner-occupied, so you'd have to live in one of the units. There are other rehab loans (HomeStyle, etc.) for non-owner occupied, but I believe they require 30% down. -Inspector Mike Savage - Thu Jun 26 2008, 14:14

Need Advice on Obtaining Rehab Financing for Gut Rehab of SFH

Asked Fri Jun 20 2008, 09:27 by Phil - 60647 - Financing - 7 answers

Inspector Michael J. Savage answered:

Without a doubt, the FHA 203k is the way to go. You roll the mortgage and rehab costs into one loan at a competitive interest rate. -Inspector Mike Savage - Mon Jun 23 2008, 12:45

Can you get a mortgage from a bank for more than the purchase price of the house?

Asked Fri Jun 6 2008, 20:45 by David - Chicago - Home Buying - 7 answers

Inspector Michael J. Savage answered:

I have 203k info on my website at the link below: -Inspector Mike Savage - Fri Jun 20 2008, 14:49

Home Inspection - Worth the Money?

Asked Sun Jun 15 2008, 13:21 by JMR - Chicago - Home Buying - 7 answers

Inspector Michael J. Savage answered:

If you'll e-mail me at mike@mjsinspections.com I'll send you a sample report of a home that I've inspected that is of a similar age. You can then determine whether you think it's worth the money.

I charge $295 for single family and I include a free termite inspection. I am also licensed to perform radon and certified to perform mold screenings, if you're concerned about either of those aspects.

-Inspector Mike Savage - Mon Jun 16 2008, 18:02