HUD 203k Certified Milwaukee Home Inspector

The Federal Housing Administration (FHA), which is part of the Department of Housing and Urban Development (HUD), administers various single family mortgage insurance programs. These programs operate through FHA-approved lending institutions which submit applications to have the property appraised and have the buyer's credit approved. The Section 203(k) program is the Department's primary program for the rehabilitation and repair of single family properties.

House Detective can take you through the FHA203k process, and is an accredited home inspection service. After the homebuyer locates a Wisconsin property, they need a preliminary feasibility analysis. House Detective can work with you on the feasibility home inspection. House Detective combines the Wisconsin Health and Safety and FHA minimum property standards during this feasibility inspection. During the feasibility inspection, there are three main objectives to be determined: (1) The extent of the rehabilitation work required;(2) Rough cost estimate of the work; and(3) The expected market value of the property after completion of the work. After this, the sales contract is executed, the homebuyer selects a mortgage lender, and then House Detective works with you to prepare a work write-up and cost estimate.  During the work write up, House Detective needs to inspect the property to assure: (1) there are no rodents, dryrot, termites and other infestation; (2) there are no defects that will affect the health and safety of the occupants; (3) the adequacy of the existing structural, heating, plumbing, electrical and roofing systems; and (4) the upgrading of thermal protection (if necessary).

After the homebuyer is accepted to the FHA 203(k) program, the lender will request the HUD case number. Following this, the fee consultant will visit the property, and the homebuyer and contractor meet with the fee consultant to ensure everything is acceptable. House Detective will assist you in coordination of the contractor proposal and the specifications of your work write up. After this, the property will be appraised, and the lender will review the application and issue a conditional commitment and statement of appraised value. Next, the lender will prepare a firm commitment application and issue the firm commitment. Next, the mortgage loan closing will occur and the following step will be the mortgage insurance endorsement. Next, the rehabilitation construction will occur and following construction, funds are released from the rehabilitation escrow account. Once the work is completed, a final inspection occurs, and when approved, the final approval from the HUD is given.

House Detectives can help you throughout the entire process, providing the feasibility Milwaukee home inspection, contractor proposal coordination, the work write up and cost estimates, and draw inspections. House Detective is committed to excellence and has the expertise to guide you through the FHA 203k process. House Detective is HUD certified as well, so can complete the required HUD inspections for your FHA 203k approval process.