203k Consultant

203k Consultant | It is extremely important to have your home renovated once a year at the least. This keeps the aesthetics intact and home-owners safe from potential harm. Furthermore, periodic renovations also save home-owners from losing a lot of money on irregular repair needs.

Home repairs are not cheap. This is where home-repair loans come in. Most of the home-owners, especially in the United States, tend to opt for a 203(k) or a streamlined 203(k) based on their specific requirements; both being offered by the Federal Housing Society. Following are a few major aspects that differentiate one from the other.

203(k) Loan

This home-repair loan is also referred to as an FHA 203(k). This loan is normally chosen by people who are buying a certain home which requires a set amount of repairs prior to them moving in. It combines the mortgage on your new pre-used place with the cost of repairs, so you don’t have to get two separate loans. A 203(k) loan can only be taken if the repairs are costing over $35,000. Such repairs include major works like room additions that may keep you out of the home for more than a month.

Streamline 203(k)

A streamline 203(k) loan is taken if you are concerned with routine repairs like painting and floor repairs. This loan can only be opted for home-repairs costing less than $35,000. The minimum limit is $5,000, where if you are under that than a 203(b) is right for you.

Where Does Beryl Engineering and Inspection Come In?

Acquiring these loans requires you to go through a complicated process. ‘Beryl Engineering and Inspection’ works as your 203(k) consultant for such loans. We not only inspect your house for areas that need repair, but also prepare and send documents to relevant authorities and assist you in getting the loan. In addition, we also offer you a list of different contractors that you can select from to undertake the repairs.

Are you looking for a 203(k) or streamline 203(k) consultant? Simply contact Beryl Project Engineering at (813) 358-0412.