Get the higher limits and endorsements.

Occasionally, companies will use a different policy, a Vacant Dwelling policy endorsed to include the renovation. 

Without know the type of policy, exclusions, endorsements etc. none of us can give you an answer on whether or not you have coverage.

A bank or direct lender will be a little bit faster since they have the money, a broker has to take a few more days to process in house and send to the lender and this happens all the way to funding so a broker needs more time to close, so just plan around that and you should be good.Having said all that, the FHA in today's market is a much better rate than a conventional loan so the costs of the UMI/MI will off set and since it's financed and has a tax benefit, it works your advantage.And lastly, anyone with a CA endorsed or any other state NMLS license can originate anywhere in the state, as long as the lender writes loans for that area. 

The loan can be called at any time.I use sub2 for buy, fix and flips.Sub2 and then wrap is not a strategy I endorse.

REQUIRED PROVISION: If the financing described above involves FHA Insured or VA Financing, it is expressly agreed that, notwithstanding any other provisions of this contract, the purchaser (Buyer) shall not be obligated to complete the purchase of the property described herein or to incur any penalty by forfeiture of earnest money deposits or otherwise: (i) unless the Buyer has been given in accordance with HUD/FHA or VA requirements a written statement issued by the Federal Housing Commissioner, Department of Veterans Affairs or a Direct Endorsement Lender setting forth the appraised value of the Property of not less than $ _______________ ; or (ii) if  the contract purchase price or costs exceeds the reasonable value of the Property established by the Department of Veterans Affairs.    

Pace Morby continues to add more value to his students on a day to day bases, way more then what I thought I was receiving when joining, all without additional charge.I give my complete endorsement, and recommendation.Richard T.

The impact on clients may be disheartening, as they realize their advisors are restricted from endorsing potentially profitable investments.

house is age 1930. initial renovations cost, i got from different contractors. i think it came to $14k but i just around up few grandsclosing cost break down is below: (it high bc I am including home insurance & taxes for the year within closing cost) Application Fee $250.00 Loan Level Price Adjustment $4,453.00 Underwriting Fee $350.00 Appraisal Fee $600.00 Credit Report Fee $27.00 Flood Certification $9.00 Lenders Attorney Fee $500.00 Tax Related Service Fee $99.00 Title - Administrative Fee $25.00 Title - Bankruptcy Search $20.00 Title - Endorsement Fee $150.00 Title - Lenders Coverage Premium $1,026.00 Title - Search Fee $375.00 Recording Fees and Other Taxes $375.00 Transfer Taxes $1,875.00 Homeowner's Insurance Premium (12 months) $1,200.00 Prepaid Interest ($15.63 per day for 15 days @ 3%) $234.00 Homeowner's Insurance $100.00 per month for 4 mo $400.00 Property Taxes $112.75 per month for 7 mo $789.00 School Taxes $338.08 per month for 11 mo

In some, if not most cases, the mortgagee isn't even informed of additional assignments of proceeds.Wendell, my comments were addressing the OP I did not listen to your podcast and my due diligence comment applies to the entire site, not saying you or anyone has bad information (that said is not an endorsement either) but there is some bad information on BP given by the public. :)