HUD 203(k) Specification of Repairs – Easy 203k Professional
When applying for a HUD 203(k) loan, a 203k Consultant or Homebuyer will need to submit a work write-up which lists in detail all of the labor and materials for completing the rehabilitation project. This work write-up is typically referred to as the Specification Of Repairs
Easy 203k Professional www.easy203kpro.com allows users the ability to create a Specification Of Repairs or Work Write-Up for their HUD 203(k) loan projects. Once the repairs, allowable fees and consultant fees are entered into the project, the Specification Of Repairs can be easily generated. If changes are required, simply generate a new SOR.
Here is a link to an example of a Specification of Repairs as generated by Easy 203k Professional: Sample_Specification_Of_Repairs
In the case of a Standard 203(k) project, a FHA qualified 203k Consultant will be required to manage the collection and submission of documents to the lender as well as dispersing of funds.
If the project is a Streamlined 203(k), the homebuyer can manage the project themselves; however, it is highly advised they seek the assistance of a 203k Consultant. The consultant’s experience and knowledge of HUD and FHA requirements can help save time, money, and ensure proper guidelines are followed to comply with these requirements.
- Visit About Easy 203k Professional to learn more about the our online 203k Software.
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HomeBuyers and Real Estate Professionals
- Use our Search For 203k Consultant feature to find a 203k Consultant.
- Visit HUD 203k Loan Information to learn more about the HUD 203(k) loan program.