FHA 203K Consultant

HUD Inspector203K Consultant Atlanta

If you are purchasing a home in the Metro Atlanta area with a 203k loan you will be required to have a 203k inspection by a FHA / HUD approved consultant.  Georgia State Inspections is the approved 203k Consultant that Atlanta can depend on.

FHA / HUD Compliance Inspector – ID Q842

FHA / HUD 203k Consultant – A0876

FHA 203k Consultant Inspector Atlanta

We have put together a “203(k) Process At-A-Glance” to help our 203K Clients.  For more information visit HUD’s 203k loan page

The following is a list of the basic steps to a 203k loan: 

203(k) Consultant Process:

Site Visit

Consultant meets with the borrower at the site.  A general examination of the work to be done determines if the project is feasible.   If feasible, Client signs Consultant Agreement.

Consultant prepares Work Write-Up

Clear, concise project specifications.  Construction cost analysis.  HUD required draw request forms.  Preparation of contractor bid packages.  Preparation of lender packages.

Consultant delivers the Work Write-Up

Borrower  ·  Lender  ·  Contractor

Selection of a Contractor by the Borrower

·  The Borrower selects a contractor. Borrowers should be aware that many lenders may have contractor qualification criteria. Some lenders maintain a list of contractors that have met their qualification criteria. ·  Discuss contractor selection with your lender to learn about their contractor requirements. If you’re considering a contractor which has not yet been approved by your lender or has never done a 203(k), it is important that they are informed early on about the 203(k) concept as it applies to contractors.  ·   Loan Closes.  ·  Repair funds are placed in escrow.   ·  Remodeling begins.

Consultant Performs Draw Request Inspections

  • 1st Draw – Consultant insures permits were issued.
  • 2nd and 3rd Draw – Draw request inspections are performed as work progresses.
  • 4th Draw – A punch list is established.
  • 5th Draw – The project is closed out and warranties and lien releases collected.

203(k) Consultant Fee Schedule, established by HUD: The consultant must enter into a written agreement with the borrower that completely explains what services the consultant will perform for the borrower and the fee charged. The fee charged by the consultant can be included in the mortgage.

  • $400 for repairs less than $7,500;
  • $500 for repairs between $7,501 and $15,000;
  • $600 for repairs between $ 15,001 and $ 30,000;
  • $700 for repairs between $30,001 and $50,000;
  • $800 for repairs between $50,001 and $75,000;
  • $900 for repairs between $75,001 and $100,000;
  • and $ 1,000 for repairs over $100,000.

Prior to the appraisal, a HUD-accepted fee consultant must visit the site to ensure compliance with program requirements. The utilities must be on for this site review to take place. The fee is as follows and may not be changed without HUD Headquarters approval:

1) Initial review prior to appraisal:

  • Cost of Repairs/Fee: <$15,000=$100.00,
  • >$15,001 but less than or equal to<$30,000=$150.00,
  • >$30,001=$200.00

2) Additional unit review (two to four units with same case number)-$50.00/unit.

3) Additional review (reinspection of the same unit)-$50.00. When travel distance exceeds 30 miles round trip from the reviewer’s place of business, a mileage charge (established by HUD Field Office) may be applied to the above charges, including toll road and other charges where applicable.

Finding a Certified and Insured FHA / HUD 203k Consultant Inspector is essential and you can depend on Georgia State Inspections for all your FHA / HUD 203k home inspection needs.  Call Georgia State Inspections at 404.514.7457 to schedule your Atlanta Home Inspection or Georgia Commercial Inspection.  We are the 203k Inspectors helping buyers to be confident in their investment.

Georgia State Inspections provides inspections in metro Atlanta and North Ga including:  Gwinnett, Fulton, Dekalb, Forsyth, Cobb, Cherokee, Barrow, Alpharetta, Atlanta, Auburn, Berkeley Lake, Braselton, Buford, Buckhead, Canton, Cumming, Dacula, Duluth, Dunwoody, Flowery Branch, Gainesville, Hoschton, Jefferson, Johns Creek, Lawrenceville, Lilburn, Loganville, Marietta, North Fulton, North Gwinnett, Perimeter, Roswell, Sandy Springs, Smyrna, Snellville, Sugar Hill, Stone Mountain, Suwanee and Winder

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Contact Georgia State Inspections to schedule your home inspection at 404.514.7457