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203K

What Is a 203k Consultant?

A 203k consultant is required when you use a Standard 203k loan. They do come with fees, though you can finance them with your mortgage.


[Updated: Jun 09, 2021 ] Jul 13, 2020 by Aly J. Yale

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Service Purpose Fee
Feasibility study To determine the financial feasibility of the project $100
Work write-ups To describe the planned work and its cost estimate $400 to $1,000, depending on total project cost
Draw request inspection To inspect the quality of work before issuing more repair funds (you'll likely request a draw inspection several times in the process) $350
Change orders For documenting any proposed deviations from the original project plan $100
Re-inspections When work must be re-inspected for any reason $50
Mileage For travel to and from the job site (as long as it's at least 15 miles away for the consultant) $0.575/mile

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