Contractor for 203K repair

[Jerome Adams]

Hey! I am looking at 2 potential fixer uppers in gloucester county for a personal residence that I was thinking for a 203k loan. I am new to this process but I understand that it needs to be done right and someone experienced in this area. Does anyone have any recommendations? I don't mind paying someone to do a site visit with me to get accurate numbers.

[Dave Spooner]

@Jerome Adams When you apply for your 203k, you will be assigned a 203k Consultant. There role is to be your advocate through the process and ensure your contractor is offering sound bids and providing good work.

Now, it doesn't always work out that way, but generally, incentives are appropriately aligned and most 203k consultants do a great job. These folks are also extremely familiar with local contractors in your area that can handle 203k projects. I'd suggest starting there. Be sure to still do your due diligence with the contractor, but your lender will call references and investigate as well. The nice thing about the 203k is that there are a few people involved to watch your back.

Best of luck!