Topic: FHA 203K Consultant and Contractor Recommendations?
FHA 203K Consultant and Contractor Recommendations?
Hello everyone,
My name is Gabriel and I am a long time reader of this site, and even longer time fan on Newburgh. My wife and I have finally decided to make the move (from Brooklyn of course), and have recently heard back from a shortsale house we put an offer on! We are very excited to join the Newburgh community and be a part of all that is going on.
We are seeking to use a FHA 203k loan to buy and rehab the house, and we are now at the point where we need an FHA consultant to inspect the house and write a report about it’s rehabilitation needs. Has anyone been through this process before? Can anyone recommend a FHA consultant that they have used and liked? Please share any information you may have.
Also, we will also be searching for a FHA 203k general contractor to do the work? Does anyone have any recommendations? Even if you have a general contractor that you loved, but are not sure if they do FHA 203k projects, please share the information.
Thanks so much and I hope to see you soon!
6 Replies Add Reply
Gabriel, that is very exciting. I have found with the forum people are very hesitant to recommend contractors. I guess the experience varies with each client.
Inspector info: Here are 2 inspectors that do FHA inspections. It will cost you $900+ for this type of inspection.
http://www.homeprony.com/
and
Bob Newkirk picshomepro@fronteirnet.net , 845-876-7628
Contractors I know that work with 203k:
Mind you, this is not based on my experience, just what I know.
Sal’s Contracting is kind of the big guy in town. He is not cheap but has a reputation of quality work. Everyone’s experience is different.
Josh Mousseau – he’s worked on the Lace Mill Factory in Kingston, 197 Lander, he also won the bid for 96 Broadway. I also like the fact that he is invested in Newburgh as a partner of 2 businesses on Liberty Street. He recently just finished the facade of Palate Wine and Spirits (today!) for the ribbon cutting ceremony. I will be working with him, but I haven’t started my project yet. But those were all reasons I considered him. Very easy to reach via text/email.
845-750-2112
josh.domusport@gmail.com
Welcome to Newburgh.
I went through that entire process in 2010-2011. I would advise you to use a contractor who is either a) experienced with FHA 203Ks, or b) inherently organized and able to communicate effectively with the inspector ( I used Doug Myers at Home Pro NY) and the mortgage broker.
I don’t know how run-down your house is, but mine was abandoned for years so was in terrible shape. Your inspector will likely miss some things, or if the maximum loan amount is at or exceeds the amount it takes to get the required repairs done, then you’ll have a headache. You may get nothing from your “wish list,” and may find, like I did, that large necessary repairs were missed on the initial write-up (mine was some major roof repairs that were only uncovered after initial demo.
Well, it’s a bit of a struggle, but I’m sure it will work out in the end. Today I’m the happy owner of a 140 yr old house that only needs some minor work on a somewhat daily basis!
Thanks for the replies. We are currently in the middle of the process, trying to get a clear idea of how much things may cost.
Earrabito, I would love to chat with you about your FHA 203K Experience. It sounds like you have a lot to share.
Sure gsmiley, email me at earrabito@hotmail.com. We can meet for coffee and if you catch me on a good day I’ll be somewhat helpful.
Hi Gabriel,
I was wondering how you made out with the purchase of your home. Did it come to fruition? If so, please elaborate on your experience. What contractor did you end up using? How did you find the 203K program? Are you enjoying Newburgh?
Hello
I am considering the move to newburgh. can anyone recommend a reputable 203K lender?
Sam