SNH Inspections & Testing Services
603-571-0035

203(k) Consultancy

Marcus Hutnick of SNH Inspections & Testing Services is an HUD FHA 203(k) Consultant. Being only 1 of 4 known NH State Licensed Inspectors as well as an FHA 203(k) Consultant (ID# P1618) in NH, your 203(b) or 203(s) loan can be augmented to a 203(k) loan with the required support of a 203(k) Consultant.

In a nutshell, FHA 203(k) loans are essentially rehabiliation loans in excess of $35,000 or any rehab. loan that requires structural attention. It is a compound process of establishing or re-establishing a mortgage, going to closing, and then arranging a post closing rehab loan placed in escrow. The FHA states that after your lender determines that you can apply for a rehab loan before/after closing, you will then need to hire a 203(k) Consultant to assure borrower protection and HUD FHA process discipline.

Many people shy away from this product since there is a common myth that 'it is difficult and drawn out." It is no more difficult or drawn out than if you were to purchase a home and then have it rehab'd. In fact, HUD-FHA makes every attempt to look for synergies with the purchase and rehab of properties. HUD-FHA also will combine both pre-rehab and post rehab loan amounts into one mortgage.


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