As a HUD Certified 203(k) consultant, I assist in advising clients on the 203(k) process. A 203(k) consultant goes through an intense certifying process and must have a minimum of three years’ experience as a remodeling contractor, general contractor or home inspector.
About the 203(k) program
The 203(k) program was created in 1961 as a way to obtain money to complete necessary repairs and to refinance or purchase a home. The program’s complexity prevented it from being used effectively until 1994 when consultants were first introduced to the field. In order to become an approved 203(k) consultant, applicants must be approved by the U.S. Department of Housing and Urban Development (HUD). Approved candidates are placed on the Federal Housing Administration’s 203(k) Consultant Roster, which guarantees that the consultant has met the qualifications as prescribed by the FHA.