The first step in the process is to find an Approved 203(k) Lender who can tell you if you might qualify so that you do not waste any time or money on a Home Inspector or Appraisal. And it is very important that you do NOT use the services of or pay for a Home Inspector to come to your home before speaking with an Approved 203(k) Lender or mortgage professional! If you use or pay a Home Inspector before a lender sends disclosures to you it could completely void the Home Inspector’s report altogether as well as preventing a lender from reimbursing the fee back to you (as a fee included in your loan amount). Getting approved by a lender could take as little as minutes over the phone or in person. [For an Approved 203(k) Lender click here or call 888-299-4484].
After you are prequalified by a lender or mortgage company it is a good time to find a 203(k) HUD Approved Consultant. Your Lender can help you find a Licensed Consultant or you can also go to HUD’s approved Consultant List at https://entp.hud.gov/idapp/html/f17cnsltdata.cfm
[For an Approved 203(k) Lender click here or call 888-299-4484]