Step-by-Step Guide to Becoming an FHA 203(k) Consultant

1. Understand the Role of a 203(k) Consultant

  • Evaluates the property condition
  • Prepares the Work Write-Up and a Cost Estimate
  • Performs draw inspections during the renovation process
  • Ensures HUD and lender compliance

You're essentially the project manager, inspector, and cost estimator all in one.

2. Meet the Minimum HUD Requirements

HUD [Handbook 4000.1, Section II.A.8.b.xii(C)] states you must have one of the following:

  • Three years of experience as a general contractor, home inspector, architect, or engineer OR
  • Be a state-licensed architect or engineer OR
  • Have verified equivalent experience with documentation (like resumes, project photos, or permits)

3. Build a Resume and Project Portfolio

Create a portfolio that showcases:

  • At least 3 years of relevant experience
  • Photos, permits, contracts, or inspection reports from past projects
  • References from clients or professionals

This portfolio will support your application with the lender or HUD-approved roster.

4. Get 203(k) Consultant Training (Highly Recommended)

While not required by HUD, formal training gives you a competitive edge, especially if you're unfamiliar with:

  • HUD compliance
  • Cost estimating
  • Write-up formats
  • Consultant reports

Recommended Training Includes:

  • Mike Young’s 203k Training Program (203konline.com)
  • Online/on-demand options for flexibility
  • Templates, inspection forms, and real-world scenarios

5. Get on the HUD 203(k) Consultant Roster

Once you meet the criteria and are trained, you can apply via HUD:

  • Fill out HUD Form 92563
  • Attach proof of experience and qualifications
  • Submit to your local HUD Homeownership Center (HOC)
  • If approved, your name will be added to the 203(k) Consultant Roster, searchable by lenders and borrowers

6. Invest in 203(k) Software & Tools

You’ll need tools to streamline your work, such as:

  • 203k Report Writing Software (e.g., 203ksoftware.com)
  • Digital inspection forms
  • Camera or mobile app for site photos
  • A laser tape measure and reliable estimating tools

7. Start Marketing Yourself

Once approved, market to:

  • Lenders offering 203(k) and renovation loans
  • Realtors working with distressed or fixer-upper properties
  • Contractors who want to work on funded projects

Use Google Business Profile, LinkedIn, and Instagram to get noticed locally

8. Set Your Fees (Per HUD Guidelines)

HUD allows a flat fee based on the rehab size:

  • $1,000-$2,000 based on the total scope
  • Additional fees for change orders, mileage, or re-inspections

You'll bill these as part of the borrower's loan — you’re not paid out-of-pocket.

Quick Tips for Success

  • Stay HUD-compliant — Know the handbook and processes inside out.
  • Build relationships — Most consultants grow through referrals from lenders.
  • Offer speed and professionalism — Lenders