How contractors are selected and approved for FHA 203(k) — licensing, insurance, bids, and lender/consultant review before draws.
Home
Renovation Loans
FHA 203(k)
Contractors
You choose the contractors; the lender approves licensing, insurance, and bids before renovation funds can be released from escrow. On Limited 203(k) Streamline, up to 3 contractors are permitted and no FHA 203(k) consultant is required.
FHA 203(k) does not assign a random builder. You interview and select contractors. What changes vs. a cash remodel is documentation: licenses, insurance certificates, itemized bids, and — for Standard — consultant review of the work write-up.
Incomplete or uninsured bids stall underwriting and draws. Getting credential packages early keeps Limited closings fast and Standard consultant packages clean.
Ryan and Steve coordinate what your lender needs so contractors know the escrow and inspection rhythm before they start.
Send licenses, insurance, and itemized bids to Ryan & Steve — they will confirm what your FHA 203(k) lender needs before you lock a start date.
All loans are subject to credit and property approval. FHA program guidelines, eligible improvement lists, MIP rules, and pricing are subject to change without notice and may not be available in all areas. This website is not affiliated with or endorsed by HUD, FHA, or any government agency. Information is for educational purposes only and is not a commitment to lend.