Clearwater 203k Consultants
203k Consultants
HUD-certified professionals who ensure that all FHA minimum standards are being met during the 203k loan process. The 203k consultant visits the property, completes the work write-up/cost estimate and the required architectural exhibits for the borrower and performs draw request inspections.
203k Consultants Glossary
Common Questions
What is an FHA Section 203k loan?
The 203k is a Federal Housing Administration (FHA) mortgage insurance program, which enables homebuyers and owners to finance both the purchase (or refinance) of a house and the cost of its rehabilitation through a single mortgage, or to finance the rehabilitation of their existing home.
The minimum amount that can be borrowed is $5,000.
- What is the FHA 203k loan program?
- What is an FHA Section 203k loan?
- What is a Streamline loan?
- What does a 203k consultant do?
- What is determined in a feasibility analysis?
- How much does a 203k Consultant cost?
- What types of repairs are eligible under the 203k Rehab Loan program?
- What improvements are NOT eligible under the FHA Streamline(k) Limited Repair Program?
- When can construction of the property begin?
- When are funds disbursed from the rehab escrow account?
- Am I required to make payments on the rehab escrow amounts that have not been disbursed?
- What happens if there are unused contingency funds in my escrow account?
- Can I choose any contractor to perform the work?
- Is a condominium eligible for a 203k loan?
203k Consultants
Closing.com makes it easy to find and compare 203k FHA consultants in your area. Consumers can use the Ask an Expert community to post questions and receive online answers about 203k FHA loan consulting services. The site enables you to shop and save money not just on a 203k consultant, but on all real estate closing costs.
