The Standard 203k Rehabilitation Mortgage program requires the use of an FHA-approved 203k Consultant. FHA maintains a list of qualified Consultants on the FHA 203k Consultant Roster. Only a Consultant on the Roster may be selected by the Mortgagee to conduct Consultant functions in the 203k program. Fill out the form below and we’ll get you in contact with a consultant in your area.
Application and Approval Process for 203k consultants:
To become an approved 203k Consultant, the prospective Consultant must be able to perform all duties outlined in 203k Consultant Requirements and fully understand the requirements of the 203k Rehabilitation Mortgage Insurance Program. The prospective Consultant must meet the qualifications for one or more of the following:
•Be a state-licensed architect;
•Be a state-licensed engineer;
•Have at least three years of experience as a remodeling contractor or general contractor; or
•Have at least three years of experience as a home inspector.
The prospective Consultant must not be listed on:
•The General Services Administration’s (GSA) System for Award Management (SAM);
•HUD’s Limited Denial of Participation (LDP) List; or
•HUD’s Credit Alert Verification Reporting System (CAIVRS).
Next Steps – 203k Lenders, Realtors and Contractors:
Once you’ve found an FHA 203k consultant you’ll need to think about the next steps. Most folks don’t need a 203k consultant until they’ve already gotten pre-approved for a loan and found the home that needs the renovations so we’ll assume that’s already been done. If that hasn’t been done then you can contact Davina Miller at Georgetown mortgage who is a 203k lender to get pre-approved for a 203k loan. You can also contact Stephen Hargrove who is realtor that specializes in finding homes that will qualify for the 203k loan.
The last step is to find a qualified 203k general contractor that’s on the 203k lenders approved contractor list and is also exercised in all the rules and regulations of the FHA 203k process.