The 203(k) Consultant is someone who has been designated by the FHA/HUD Field Office
for the purpose of completing the Work Write-Up/Cost Estimate and performing the Draw
Inspections.
In order to be designated as a Georgia 203(k) Consultant and Inspector, the Consultant
must meet or exceed the experience requirements for FHA/HUD approval and have been
trained in the Work Write-Up format of the 203(k) program. By using an approved
Consultant, there is no need for a Plan Reviewer to check the Work Write-Up. However, if
architectural drawings must be turned in with the building permit, then those will need
to be reviewed by the governing permitting authority.
HUD/FHA consultants are fee panel inspectors, who supervise the loan process during its
duration, and have HUD approval to act as Consultants. Below is an outline of how we
guarantee you a successful project.
I. Site Visit
- Consultant meets with the borrower at the site.
- A general examination of the work to be done determines if the project is feasible.
- If feasible, the Client signs Consultant Agreement and pays the HUD/FHA required
retainer fee of $400. Please refer to the "Fee" link to the Left, all FHA Consultants have
the same billing rate based on FHA/HUD requirements set at the Federal level.
- The Consultant performs an inspection of the property.
- IMPORTANT! If the Contractor has already submitted a bid, it is important that a copy be
provided to the Consultant.
II. Consultant prepares a detailed Report which contains:
> Specification of Repairs
> FHA/HUD required draw request forms
> Certification Letter
> Identity of Interest forms
>Consultant Agreement
> Deposit Receipt
> Forms for your Contractor:
> Homeowner/Contractor Agreement/Contract
> W-9
> Notice to Contractor
> All Consultant forms required by the Underwriter for FHA/HUD
III. Consultant delivers the Report Package (typically next day)
- The entire package will be emailed, as PDF, to the Borrower and the Underwriter of the
loan. If a mortgage broker is involved, I will provide a copy to them as well.
IV. Selection of a Contractor by the Borrower
- The Borrower selects a contractor, however it is common for the contractor to have been
selected before the initial Site Visit with the Consultant. Borrowers should be aware that
many lenders may have contractor qualification criteria and may maintain a list of
contractors that have met their qualifications. Discuss contractor selection with your lender
to learn about their contractor requirements. If you’re considering a contractor who has
not yet been approved by your lender or has never done a 203(k), it is important that they
are informed early on about the 203(k) concept as it applies to contractors.
V. Loan Closes
- Repair funds are placed in escrow.
- Remodeling begins.
VI. Consultant Performs Draw Request Inspections
- 1st Draw - Consultant insures permits were issued, inspects initial phases of construction.
- 2nd and 3rd Draw - Draw request inspections are performed as work progresses.
- 4th Draw - A punch list is established by Owner and Contractor together, Consultant
reviews the list and verifies progress.
- 5th Draw - The project is closed out and warranties and lien releases collected.
for the purpose of completing the Work Write-Up/Cost Estimate and performing the Draw
Inspections.
In order to be designated as a Georgia 203(k) Consultant and Inspector, the Consultant
must meet or exceed the experience requirements for FHA/HUD approval and have been
trained in the Work Write-Up format of the 203(k) program. By using an approved
Consultant, there is no need for a Plan Reviewer to check the Work Write-Up. However, if
architectural drawings must be turned in with the building permit, then those will need
to be reviewed by the governing permitting authority.
HUD/FHA consultants are fee panel inspectors, who supervise the loan process during its
duration, and have HUD approval to act as Consultants. Below is an outline of how we
guarantee you a successful project.
I. Site Visit
- Consultant meets with the borrower at the site.
- A general examination of the work to be done determines if the project is feasible.
- If feasible, the Client signs Consultant Agreement and pays the HUD/FHA required
retainer fee of $400. Please refer to the "Fee" link to the Left, all FHA Consultants have
the same billing rate based on FHA/HUD requirements set at the Federal level.
- The Consultant performs an inspection of the property.
- IMPORTANT! If the Contractor has already submitted a bid, it is important that a copy be
provided to the Consultant.
II. Consultant prepares a detailed Report which contains:
> Specification of Repairs
> FHA/HUD required draw request forms
> Certification Letter
> Identity of Interest forms
>Consultant Agreement
> Deposit Receipt
> Forms for your Contractor:
> Homeowner/Contractor Agreement/Contract
> W-9
> Notice to Contractor
> All Consultant forms required by the Underwriter for FHA/HUD
III. Consultant delivers the Report Package (typically next day)
- The entire package will be emailed, as PDF, to the Borrower and the Underwriter of the
loan. If a mortgage broker is involved, I will provide a copy to them as well.
IV. Selection of a Contractor by the Borrower
- The Borrower selects a contractor, however it is common for the contractor to have been
selected before the initial Site Visit with the Consultant. Borrowers should be aware that
many lenders may have contractor qualification criteria and may maintain a list of
contractors that have met their qualifications. Discuss contractor selection with your lender
to learn about their contractor requirements. If you’re considering a contractor who has
not yet been approved by your lender or has never done a 203(k), it is important that they
are informed early on about the 203(k) concept as it applies to contractors.
V. Loan Closes
- Repair funds are placed in escrow.
- Remodeling begins.
VI. Consultant Performs Draw Request Inspections
- 1st Draw - Consultant insures permits were issued, inspects initial phases of construction.
- 2nd and 3rd Draw - Draw request inspections are performed as work progresses.
- 4th Draw - A punch list is established by Owner and Contractor together, Consultant
reviews the list and verifies progress.
- 5th Draw - The project is closed out and warranties and lien releases collected.
Role of the FHA Consultant:
| 400 Lawrence Street Marietta GA 30060 404.680.5773 cc@gravityarchitects.com |
ALL RIGHTS RESERVED 2009
| Looking for a Georgia 203(k) Consultant? Call Chris- all FHA packages are turned over next day, are completed on FHA approved software, and turned in as PDF's for rapid submittal. I serve all of Metro Atlanta and many rural areas across Georgia. |
| Christopher Colvin is a HUD/FHA Consultant & Inspector for the State of Georgia. Please call 404.680.5773 with any questions or to schedule a Consultation. |
| Need design work or drawings for permitting? |
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| Christopher Colvin HUD Approved 203(k) Consultant, FLA. & GA. FHA Compliance Inspector |