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Updated almost 6 years ago,
I'm a GC. Can I rehab my own 203k property?
My husband and I had an offer accepted on a property. We are approved for a 203k loan. My husband is a licensed General Contractor (in Maryland) who has rehabbed houses for others (even 203k houses). I'm wondering if he can do the work on our 203k property. It is a streamlined 203k loan. I've heard that he could do the renovation but could only be reimbursed for material (not labor) costs. I haven't been able to find this documented anywhere. Can someone who is knowledgeable please provide some insight or possibly a reference? Also, the house is in another state (NC). Not sure if that makes a difference. Thanks in advance for any input.