203k Consulting
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203k Consulting

A 203k loan is a renovation loan that allows homebuyers to finance both the purchase of a home and the cost of repairs, into one single mortgage. Homeowners can also finance the rehabilitation of their current home. Limited 203k (formerly known as a streamline) will allow you to repair minor work, such as kitchens and bathrooms.  Standard 203k can finance major renovations, including structural changes, and additions.

What Types of Homes are Eligible?

  • Single-family
  • Multi-family (up to 4 units)
  • Condos (if they’re FHA approved) and only interior repairs are allowed.

What Does the Consultant Do?

  • Evaluate systems of the home and outline safety or structural issues that will be required to be repaired.
  • Review bids from the contractors.
  • Create the initial work write-up and SOR.
  • Provide documentation that repairs are complete so funds can be disbursed.
  • Ensure the repairs are being done on time and professionally.

Examples of Types of Repairs

  • Interior/exterior repairs
  • Mechanical improvements
  • Structural changes
  • Additions
  • Septic improvements
  • Landscaping
  • Site, grading, or drainage improvement
  • Accessibility upgrades
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Schaefer Inspection Service serves the entire state of Connecticut. 

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Thank you for your visit to our website. We wish you and your family good health as our family and business navigate this unpredictable time in our world. Since March we have been adjusting our practices to keep up with current health, safety, and cleanliness guidelines. Beginning on May 20 we will allow ONE client, wearing mask and gloves (no exceptions), in the home during inspection, with the inspector. Please understand that our priority is to continue to serve our clients, agents and homeowners well, while adhering to best health practices. We are practicing extra cleanliness and hygiene as we inspect in people’s homes. We appreciate your collaboration with us.

Best wishes to you on the purchase of your new home!

Jill and Bruce Schaefer