FHA 203(k) consulting for renovation loans: the feasibility study, work write-up, cost estimate and draw inspections HUD requires to finance a property and its repairs in a single mortgage.
The consultant is the bridge between the borrower, the contractor and the lender. We perform the feasibility study to confirm the project works, prepare the detailed work write-up and specification of repairs, produce the cost estimate the lender underwrites against, review contractor bids for completeness and reasonableness, and perform the draw inspections that release funds as work is completed.
Buyers purchasing a property that will not pass FHA appraisal in its current condition. Owners refinancing to fund renovation. Anyone who has found the right house in the wrong condition and needs the purchase and the repairs financed together rather than separately.
A 203(k) succeeds or fails on the quality of the work write-up. An incomplete scope means change orders, delays and funding gaps mid-project. A thorough one produces a document contractors can bid accurately and a lender can fund without argument. That document is the consultant's actual product, and it deserves the time it takes.