Do I need to be certified to be an FHA 203k consultant?
What does this "certificate" actually do for you as a contractor?
Simply this - Contractors who display this certified 203K contractor from 203Kcontractors.com have actually gone through a course to learn about the FHA 203K program, their financial condition has been reviewed and approved by 203Kcontractors.com, and in general have proven they meet or exceed typical qualifications to maintain the certification.
Do I have to be certified? No, but you don't have to be licensed either, but sooner or later it will catch up with you. I recommend any and all contractors who want seriously to get busier using the 203K loan program get this certification. Paul Weldon who started this company is a dedicated young man that had an idea of how to improve the industry with this certification program. It is actually more rigorous than the lender validation process.
Many lenders therefore look for that 203K contractor certified bug because they know most of their work is been done for them. They start their process knowing that they have a viable candidate for a 203K project before they even start their work.
What does it mean to be validated by a lender? Being validated is relatively a simple process whereby the lender has a validation package they present a contractor. The contractor fills out this information which includes references that will be checked by the lender, a W9, and a few other papers, very simple to fill out. It seems a bit overwhelming when you first get it but it's actually very controllable. Send an email if you would like to get a sample validation package from a major lender.
Realtors quite often have their favorite contractors that they rely on to get their projects completed so they can close escrow on smaller projects. If that is your case I would recommend that you have them get hold of Paul Weldon at 203Kcontractors.com and look into the process. Paul does offer a discount if you say we sent you so please do that it will save you a few bucks. We do not get any other remuneration from sending people to Paul we do it because it's the right thing to do and a valuable service to our contractor friends..