Minnesota 203k Loan Services

Minnesota’s #1 FHA 203k consultant

Let us help get you a 203k loan!

1st for 203k solutions

Welcome to the #1 place in Minnesota to find a consultant, lender, contractor or associate for the FHA 203K loan program.

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.

To be designated, the consultant has met the experience requirements for HUD approval and has been trained in the Work Write-Up format of the 203(k) program. By using an approved consultant, there is no need for a Plan Reviewer to check the Work Write-Up.

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. Borrowers should be aware that many lenders may have contractor qualification criteria. Some lenders maintain a list of contractors that have met their qualification criteria. Discuss contractor selection with your lender to learn about their contractor requirements. If you’re considering a contractor which has not yet been approved by your lender or has never done a 203(k), it is important that they are informed early on about the 203(k) concept as it applies to contractors.

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.

  • 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..

    I am also certified for the new EPA lead rule which starts on April 22, 2010. My status can be confirmed on the HUD website.

    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 from when they first contact me, and if necessary the same day provided I have an opening
    2. I will travel the state, but prefer serving within the Twin Cities metro. If required to travel the usual fees apply, mileage @ .50c per mile and lodging if necessary.
    3. Complete work write up within 24 to 72 hours on the paperwork of your choice.

    Consultant fees (per HUD)

    Repair Amount Consultant Fee
    $5000- 7500 $400
    $7501- 15,000 $500
    $15,001- 30,000 $600
    $30,000- 50,000 $700
    $50,001- 75,000 $800
    $75,001- 100,000 $900
    $100,001- $125,000 $1000
    $125,001- $149,999 $1200
    $150,000- $174,999 $1400
    $175,000- $199,999 $1600

    Draw request inspection fees are $150
    Time needed for draw request 24 hours or next day, can do same day depending on my availability.

    Architectural and engineering fees vary; will provide estimate of fees per job request.

    Consultant fees are set by HUD, 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.

    Additional information that may be helpful.

    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

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