Minnesota 203k Loan Services

Minnesota’s #1 FHA 203k consultant


1st for 203k

Need a 203K lender? Call 612-788-5584

Need a question answered? 612-788-5584


What does a consultant do?

The 203(k) consultant is someone who has been designated by a HUD field Office for the purpose of completing the Work Write-Up/Cost Estimate and the required architectural exhibits for the borrower.

 

Below is an outline of how we guarantee you a successful project.

I. Site Visit:

  • Consultant meets with the borrower at the site.
  • A general examination of the work to be done determines if the project is feasible.
  • If feasible, Client signs Consultant Agreement and pays Consultant a retainer fee.

II. Consultant prepares a detailed Report which contains:

  • Clear, concise project specifications
  • Construction cost analysis
  • HUD required draw request forms
  • Preparation of contractor bid packages
  • Preparation of lender packages

III. Consultant delivers the Report Package:

  • Borrower
  • Lender
  • Contractor

IV. Selection of a Contractor by the Borrower:

  • The Borrower selects a contractor.
  • Buyers please note, banks have certain requirements for contractors, find out what they are.

V. Loan Closes:

  • Repair funds are placed in escrow.
  • Remodeling begins.

VI. Consultant Performs Draw Request Inspections:

  • 1st Draw – Consultant insures permits were issued.
  • 2nd and 3rd Draw – Draw request inspections are performed as work progresses.
  • 4th Draw – A punch list is established.
  • 5th Draw – The project is closed out and warranties and lien releases collected.

These are the main duties of a 203k loan consultant, other services that can be arranged are septic inspections, structural engineering, lead, mold and asbestos testing.


My 203k Minnesota customers say this:

Paul was great, a fast worker and he keeps you informed.  Cindy K

Quick response and keep things moving forward, great job! Dave B

Very helpful, especially when our contractor had questions. Brenda S

Paul was in touch with me from A to Z. Mark J

 

Call us at 612-788-5584 or fill out the contact form.



  • Borrowers should be aware that many lenders may have contractor qualification criteria.

  • 203k loan consultant fees for Minnesota Homeowners

    My experience consists of 30 years as a licensed (#BC 20092543) general contractor in residential remodeling. I have certifications in estimating and design and have been involved as well with building projects as both an estimator and project manager..

    My ID for 203k is D0864

    203K Services and Fees

    Service timeline;

    1. Typical response time to meet a borrower for an inspection is 24 to 72 hours.

    2. I will travel the state, but mainly serve the Twin Cities and suburbs.

    3. I complete work write up within 24 to 72 hours.

    Consultant fees (per HUD)

    Repair Amount Consultant Fee
    $5000- $35000 $400
    $35,000- 50,000 $500
    $50,001- 75,000 $800
    $75,001- 100,000 $900
    $100,001- $125,000 $1000
    $125,001- $149,999 $1200
    $150,000- $174,999 $1200
    $175,000- $199,999 $1200

    Draw request inspection fees are $150
    Time needed for draw request 24 to 48 hours from call.

    Consultant fees are set by HUD, they start at $400, and go up depending upon project needs.

    Feasibility Analysis. We charge $150 - $200 for the analysis depending on the amount of rehab cost.

    Additional services
    I also have a network of contractors, designers, architects, engineers to address most situations, including septic reports and surveys. All these services are on a will call basis.

    We also provide you with 100% of the forms you need to add to your 203k paperwork to be ready for underwriting. The MMW (Maximum Mortgage Worksheet) is your responsibility - our role is only to help you to fill in your worksheet with details applicable to the consultation.

    Call 612-788-5584 or
    email

  • Now the consultant will meet you for $150, thats 25% off, get a feasibility study and see if you are right for a 203k Loan.

    Paul Lesieur (203kloanmn): Builder-Contractor in Saint Paul, MN