Why You Should Use an FHA 203k Consultant, Even on a Limited Project
By Mike Young, FHA 203k Consultant 916-758-1809 cell direct
(203kOnLine.com, covering the USA)
Why You Should Use an FHA 203k Consultant, Even on a Limited ProjectUpdated 11/12/2024. The FHA 203k program is a powerful tool for homeowners and buyers looking to finance home improvements. While the Limited 203k program is designed for smaller projects under $75,000 as of November 4th, 2024, many people question the need for a consultant on such a seemingly straightforward renovation. The truth is that even a Limited 203k project can benefit significantly from the expertise of an FHA 203k consultant. The $75,000 might include a contingency reserve (it's up to the lender), plus costs and fees of about $800 that most people don't tell you. If you go over the $75,000, congratulations, you just made it a standard 203k. If your lender only does Limited 203k loans, you must find another le...
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