Interview with an FHA 203K Cost Consultant

Join Us For A 7 Part Series With An FHA 203K Cost Consultant

The 203K Cost Consultant plays a significant part of the 203K and is required on all 203K Standard loans.
In this interview I talk to a Hud Certified Cost Consultant. This 7 part series will cover:

The role of the 203K Cost Consultant What to expect at the inspections
How to avoid mistakes How to prepare for the 203k process
As well as other insider tips to help you get your loan closed with less stress

Part One:  What is a 203K Cost Consultant?

Topics discussed:

  • The role of the Cost Consultant
  • What a home buyer/owner can expect from the Cost Consultant
  • The First Inspection and what to expect|

     

Sign up here to listen to the entire 7 part series

 

203K Mortgage Lender Podcast Series
203K Mortgage Lender Webcast Series

Part 1 of 7: FHA 203K Cost Consultant Interview

 

Duration 7:09 minutes

 

Don’t forget to Sign Up for the rest of the series!

 

Here is an Outline of all the Topics Covered:

Part Two: The First Meeting and What to Expect
Topics discussed:

  • Things to consider when buying a home with the 203K
  • Selecting Contractors
  • Bids and Write-ups

Part Three: Work write-ups and Breakdowns
Topics discussed:

  • More about work write-ups in detail
  • More about Contractors, tips on how to select one
  • Cost Breakdowns in detail

Part Four: Contingency Reserves

Topics discussed:

  • Why it’s necessary
  • How much is needed

Part Five: Common Mistakes
Topics discussed:

  • Avoiding common mistakes
  • Preferred order of process

Part Six: Disbursement Process

Topics Discussed:

  • Payment of Contractor
  • Draws
  • Extensions

Part Seven: Consultant Fees

Topics Discussed:

  • Improvement budget
  • Cost Consultant fees
  • Streamline 203K
Don’t forget to Sign Up for the rest of the series!

 

 

 


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