Easy 203k professional was the inspiration of john and nick russo, both hud consultants. A consultant to develop a specification of repairswork writeups. There are two types of 203k rehabilitation mortgages. Learn how to use the 203k consultant software program to complete your work writeups quickly making a professional presentation. Home program offices housing single family 203k 203k rehab mortgage insurance. Contractors learn how you can increase your business volume. How do i become an approved 203k consultant for fha. Did you know there is a va renovation loan that requires the use of a 203k consultant. If using a partial id, an additional specification such as last name, city, andor state is recommended. Homebuyers, realtors, lenders find a hud 203k consultant to manage your 203k home rehabilitation and renovation loan project at easy 203k professional. Easy contractor professionals project management software provides professionals the tools to manage their rehabilitation projects online.
We would like to give you some info about the 203k loan program. Mike on the standardfull 203k, hudfha requires the use of a 203k consultant 99% of the time but the lenders require the use of a 203k consultant 100% of the time. Learn how to be a 203k consultant and a consultant for several other programs. The 203k loan is a hud approved construction loan for home repair and remodeling. We have the strategic, administrative, and management components combined with practical and collaborative experience from practicing as a hud consultant and specific organizational disciplines necessary for 203k consulting. Steve has completed thousands of 203k inspections and work writeups over a 22year period. This blog on role of fha 203k consultant during mortgage and renovation process was updated and published on december 20th, 2019 the role of fha 203k consultant is to help borrowers who have a standard fha 203k loan with the major improvements that will be made on their home renovations.
As per new handbook, the streamline 203k program will now be referred to as limited 203k. Using our software, you can find a lender and contractor with ease and create your own bid specifications that your contractor will need to complete the bid process. Fha 203kcertification training and marketing system there is an opportunity gap that you can fill now. Our award winning 203k consulting software was voted the most complete 203k package presented. Type a full or partial 203k consultant identification number in a9999 format. The ability to change consultant fees as soon as hud approves changes. Applications must be submitted through an fha approved lender. Properties that require these documents or services or that will take longer than six months to complete will also require the full, regular fha 203k loan.
As the most competent consultant is one who is an fha approved 203k consultant, we will describe what this type of consultant is and does as an overall. Insurance for rehabilitation is authorized under section 203 k of the national housing act 12 u. You can purchase this combo that also provides you with 203k software for on full year, used for creating your bids in the correct format saving you lots of time and effort. To retain placement on the fha 203k consultant roster, the consultant must recertify every two years from the date of. With fha hud 203k renovation loan there are two types of products. A 203k loan program has been around since the 70s and helps update older properties in need of repairs. We help homeowners find a 203k consultant with our search for 203k search for 203k consultant feature.
Hud 203k consultants in nh advanced home inspection of. It allows for a person to receive a loan to cover the cost of a house and renovations. Hud division concrete for footer and block installed for foundation walls. When steve started in the business, he used a software called information services for buildings. A handyman might change a lock or some other minor repair but never manage the whole project. Our goal is not to be techie in our database designs. Renovation lending software gives lenders the tools they need to be successful and allows, hud consultants, borrowers, and the lenders to stay in the loop in real time. Corporate niche brings a user friendly designed database will bring information and availability to your fingertips. Easy 203k professionals software provides 203k consultants the tools to manage 203k projects online. He has provided 203k training around the country since 1995. Major banks request the 203k consultnts rehab reporter as it standardizes their loans. Because we are the singular provider offering the most comprehensive, multifaceted curriculum for hud consultant training. Are you a home building contractor, remodeler with skills that are not being used to their fullest potential. Fha 203k loan consultants hiring an fha 203k loan consultant.
Award winning 203k software 203k consultant training. Reduce your risk while improving the productivity of your team with renovation lending software rls. The general contractor may do some of the work, and he may use subcontractors that are. Enter your information, one time only it populates throughout the report. Easy contractor pro construction estimating software. Corporate niche developers have been building computer networks, databases and websites for local companies since 1998 and now bring this expertise to you at an affordable price. Lenders consultants improved productivity by streamlining the renovation loan process, we can save your bank time and money. But there are some lenders that do require the use of a 203k consultant on all 203ks. With this loan program you will be able to obtain the home of your dreams without paying new construction pricing.
The assistance and involvement of a hud 203k consultant is vital during the fha 203k loan approval process. After the number is issued, mortgagees, consultants and others can verify that the consultant has been placed on huds 203k consultant roster. Mike young is the man behind the award winning 203k software. About us 203k consulting pros hud consultant, 203k. Borrowers who choose the full standard 203k will partner with a hud certified consultant on their loan. We learned all kinds of stuff about our software and what it couldnt do.
Consultants responsibilities, fee ranges from guidelines, new contacts sheet questions with buyers brief explanation of repairs, contractor requirements, method. Renovation lending softwares goal is to provide the renovation lending community with all the tools they need to be successful. If a consultant already on the roster is found to not be in compliance with requirements of the 203k program, the consultant may be removed from the roster. Approved candidates are placed on the federal housing administrations 203k consultant roster, which guarantees that the consultant has met the qualifications as prescribed by the fha. You should take our consultant training course, this way you know the rules you will be playing by. Our hud 203k consultants help you navigate the entire complex process, from the initial feasibility inspection with a complete cost estimate, to compiling all the documentation that the lender will need to process the loan. The general 203k contractor is the responsible contractor working for the owner.
Hud requires that properties financed under this program meet certain basic energy efficiency and structural standards. The 203k consultants job is to provide value and protection during the 203k renovation, and is tasked with protecting the homeowner and ensuring that the renovation is completed according to the homeowners wishes. Introductions and expectations, your professional resume and the role of the hud consultant. Visit our website to learn more about his ground breaking software. Fha hud requires the use of a 203k consultant for a full or standard loan product, but does not mandate a consultant as a requirement for a streamline loan product. Catherine, i want to become a certified fha 203k fee consultant so i can get paid using my home inspection skills in the hottest market out right now, and yes. Y ou need to take many steps to secure a successful loan, and are required to use a 203k consultant. Rls originally built a draw management and renovation loan management system for lenders. We received an interesting call the other day from a competitor who was trying to sell their software to one of my staff consultants.
He was not competent enough to add the numbers from contractors baltimore, maryland. Our 203k consultant training is the best out there and covers all aspects of the 203k, from the consulting to the marketing and everything in between. Buyer and realtor expectations, buyers responsibilities for empowerment. Fha 203k consultants we have the best consultant training in the business. Use our interactive map to locate approved consultants near you. Vito simone this 203k consultant was just plain fraudulent. Be sure your 203k contractor is experienced and qualified.
In less than 24 hours you can become a certified fha 203k consultant, get your. On the streamline 203k, a 203k consultant is not required by hudfha and most lenders do not require one. Are you tired of the back breaking work you must do in the construction industry. Lenders consultants mitigate risk stay compliant our real time reporting will. The rehab estimator 203k free version download for pc. Case studiesconsultants renovation lending software. In order to become an approved 203k consultant, applicants must be approved by the u. The consultant agrees to make draw inspections for a period of six months from date of closing. Role of fha 203k consultant during mortgage and renovation. We have developed the software with hud consultants in mind, and have attempted to provide an intuitive environment that is easy and efficient to use.
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