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.
Application and Approval Process:
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).
The HR Group works with all the consultants throughout the Dallas/Ft. Worth Metroplex. The first step of getting a 203k loan is to get pre-approved for a 203k loan officer. Once that’s been completed then you need to find a FHA approved consultant. Fill out the form below and we’ll get you in contact with a lender, consultant or realtor that can help.