Just the other week I wrote a blog, “Myths about the FHA 203k.” Since then another misconception has come to mind regarding 203k contractors. Many people want to know whom they have to use and if they need to have a special certification to work on FHA 203k projects.
The answer is NO. Neither HUD nor the Federal Housing Administration (FHA) require any kind of special certification or training in order to be eligible to work on a 203k project.
As a lender we do not recommend contractors as it is the job of the buyer or … (3 comments)
reputable contractors: Weather Conditions
- 02/05/12 01:48 AM
We get A LOT questions that come in all the time and we try to answer as many of them as we can in blog posts so future customers will be able to see these posts and potentially have their questions answered up front. Weather Conditions One of our most recent questions was from a client in New Hampshire. The customer had a project where he was looking to put on an addition, which would require footers to be dug into the ground and, in order to do so, you obviously need to get into the ground. In New Hampshire during this time of year- you know, November, … (4 comments)
reputable contractors: FHA 203k Contractors: Are there any certified contractors?
- 12/31/11 06:27 AM
There’s a common misconception that contractors need to be certified in order to participate in FHA 203k loans. This isn’t true! There is NO actual official 203k training process that is certified or approved by HUD or FHA. We make sure you’re going with reputable contractors. The way we determine which contractors are going to be able to participate in FHA 203k loans is by: Contacting them personally Going over the premise of the loan Making sure they understand how it works Taking the time to go through their financials- making sure that they have the means and knowledge to be … (1 comments)
My blog is here to provide information regarding FHA 203K loans and conventional renovation loans for both purchase and refinance. Updates, tips and advice regarding these loans and the industry is what you will find on this blog!
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