If you are doing a FULL FHA 203k in Minnesota, here is a breakdown of a local Minneapolis, MN consultant's services and fees.
FHA 203K Consultant Services and Fees
Service timeline;
1. Typical response time to meet a borrower for an inspection is 24 to 72 hours.
2. I will travel the state, but mainly serve the Twin Cities and suburbs.
3. I complete work write up within 24 to 72 hours.
Consultant fees (per HUD)
Repair Amount Consultant Fee
$5000- $35000 $400
$35,000- 50,000 $500
$50,001- 75,000 $800
$75,001- 100,000 $900
$100,001- $125,000 $1000
$125,001- $149,999 $1200
$150,000- $174,999 $1200
$175,000- $199,999 $1200
Draw request inspection fees are $150
Time needed for draw request 24 to 48 hours from call.
Consultant fees are set by HUD, they start at $400, and go up depending upon project needs.
Feasibility Analysis. We charge $150 - $200 for the analysis depending on the amount of rehab cost.
Hopefully, the above breakdown is helpful for you in analizing your upcoming FHA 203k project. Please don't hesitate to contact us for any questions.
Contact us @:
Ben Coulter | NMLS#383046
612.384.7818
612.677.3100 Fax
UptownFinancial.com
Mortgages in All Shapes and Sizes
http://www.Linkedin.com/in/BenCoulter (Network)
http://Twitter.com/MnMortgageRates (Daily Updates)
**Ask me about our Construction/Rehab Purchase & Refi loans---up to 110% of 'Future Value'.
