Do you need a HUD 203K Consultant even if you have a HUD 203K Streamline Loan?


Editor’s note:

Part 3 of this article was suppose to be release in the Fall of 2014 (I know I’m late) but the content is still relevant today. So if you want to do a refresher on Part 1 and Part 2, please click on the highlighted links.

Part 3 – The answer is…

Okay, before we get into the answer, let’s review…

In Part 1 – Introductions and Q & A’s, we asks three questions in order to see whether or not you should hire a HUD 203k Consultant for assisting you in a Streamline 203k mortgage? The first question was can the mortgages do his/her inspections and/or repairs? The second question was what are the mortgagee’s requirements for examining the contractor bids? For paying the contractor prior to beginning construction? For inspections of the work? The last question is do you still need a 203K Consultant?

Answers one and two is located in Part 1 blog. The third answer is kind of answered in Part 2 as we discuss the nuts and bolts of the 203K process. Let’s us not beat around the bush.

The question is do you still need a 203K Consultant to handle a HUD 203K Streamline Loan? The answer is…

Full disclosure 1: I am a HUD 203K Consultant.


Both part 1 and 2 of this series had a lot of technical information that a novelist may not have the time nor the patience for.  It’s not to say if they can handle monies of that amount (max $35,000) even if they have a contractor to assist.  Or read the pages of pages of paperwork that you need so you can understand the process. The mortgage company that handles these kind of transactions, may not be well verse in determined the kinds of architectural exhibits  that you need for your needs. At the end of the day, the ball is still in the Mortgage companies hands so they have final say so in determining whether or not your project will go thru.

Because of the internet, the client has access to more information on just about any worth while subject, 203K information included. Giving time, the client can put together a package with the contractors help of course.

Full disclosure 2: Sorry for the very long delay.


Before I could finish this portion of this blog, FHA sent us a draft on “Single Family Housing Policy Handbook 4000.1″ written by HUD. Here is an excerpt from their information page… (

Single Family Housing Policy Handbook (HUD Handbook 4000.1) Information Page
The Federal Housing Administration’s (FHA) Single Family Housing Policy Handbook (SF Handbook; HUD Handbook 4000.1) is a consolidated, consistent, and comprehensive source of FHA Single Family Housing policy.
  • Consolidated:  Several hundred FHA Handbooks, Mortgagee Letters, Housing Notices, and other policy documents have been consolidated into this single source. This eliminates the need for mortgagees and other stakeholders in FHA transactions to search through multiple stand-alone policy documents to find precise and current policy information.
  • Consistent:  The SF Handbook’s consistent format of “Definition, Standard, and Documentation” supports greater understanding, easier use, and a better source for mortgagees to extend the wide range of FHA products and programs across a broader spectrum of eligible borrowers.
  • Comprehensive:  The SF Handbook is well on its way to becoming a comprehensive source of Single Family Housing policy.  While not yet complete, the SF Handbook currently has everything a lending entity needs to become FHA approved; to originate and receive an FHA insurance endorsement; to service; and to adhere to FHA’s quality control policies for almost all Title II forward mortgages—the bulk of FHA volume.

In short, it was a 1,012 page read (as of March 2016) but an important one as they consolidated and revamp their entire process.

In the coming months, you will get important snapshots on this revised “Handbook” and how it will benefit you on becoming a better consumer.

Okay, enough. The question is do you still need a 203K Consultant to handle a HUD 203K Streamline Loan? The answer is…

Yes!!!, now more then ever.