Advertiser Disclosure

advertising disclaimer
Skip to main content

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

Get our 43-Page Guide to Real Estate Investing Today!

Real estate has long been the go-to investment for those looking to build long-term wealth for generations. Let us help you navigate this asset class by signing up for our comprehensive real estate investing guide.

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

Got $1,000? The 10 Top Investments We’d Make Right Now

Our team of analysts agrees. These 10 real estate plays are the best ways to invest in real estate right now. By signing up to be a member of Real Estate Winners, you’ll get access to our 10 best ideas and new investment ideas every month. Find out how you can get started with Real Estate Winners by clicking here.