Limited 203K (Streamline)
A contractor’s estimate with a complete breakdown of material and labor costs should be uploaded to the AMC along with the contract of sale. Please request an appraiser familiar with the 203k loan product and reiterate that the appraisal is “subject to” repairs as per the contractor’s estimate. The contractor’s estimate must be attached to the appraisal.
Standard 203K (Full)
If you do NOT have a HUD Consultant’s report to upload to the AMC, STOP NOW- you should not order an appraisal at this time. Please contact us to order a HUD Consultant report. Once a HUD Consultant’s Report is ordered and completed, then the appraisal can be ordered. Please request an appraiser familiar with the 203k loan product and reiterate that the appraisal is “subject to” repairs as per the HUD Consultant Report. The HUD Consultant Report must also be attached to the appraisal.