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Updated over 5 years ago, 07/11/2019

User Stats

40
Posts
16
Votes
Steven Holiday
  • Rental Property Investor
  • Central California
16
Votes |
40
Posts

FHA 203k--Working with the Contractor

Steven Holiday
  • Rental Property Investor
  • Central California
Posted

Hi Everybody.

If someone intends to owner/occupy a home after renovations....

and the approved contractor has an agreement on the job...

Can the GC "supervise" the work done by the borrower or hired help (trashout, prep/cleanup, etc.), to reduce the actual cost?  

Would the loan fund with some cash back to the borrower?  

Not looking to break any rules, just curious about process.  

Thanks.

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