House Hacking with FHA 203k Loan

[Collin S.]

I'm starting to look for deals in Jacksonville, FL ( 32204, 32205, 32207, 32216, 32211, 32225) to buy a Duplex using a FHA 203k loan and rent out half while living in the other unit.

My question is, when you use the FHA 203k loan, does FHA specify certain contractors you can use or are you free to choose your own? Thanks!

[Jared Reutter]

Collin S.

I have just completed a 203k loan (quite a large one at 160k renovation budget) here is a direct link to the BP form we did to explain it . It also has tips for people wanting to do one. You can also search "our experience with a 203k"

You do not have to get 3 quotes, the contractors just need to be licensed bonded and insured. The only HUD approved person you need is the HUD consultant

https://www.biggerpockets.com/forums/48/topics/462090-our-experience-with-a-203k?page=1#p2870162