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Where to find a lender who will allow me to self perform the work on a 203k loan?

I am a project manager for a commercial construction company so, I would like to self perform most of the work for my remodel. Are there any lenders in the Oklahoma City area that will allow me to do that with a 203k streamline loan? by Solomon Edison from Oklahoma City, Oklahoma. Jan 18th 2013 Reply


John Desmond (jdesmond)
#16 ranked lender in Louisiana - 20 contributions

I would need more information to answer that question fully. Call me at 504-400-5626. John Desmond

Jan 18th 2013
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Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

There's a lot more questions that need to be answered so Call John above and talk to him.

Jan 18th 2013
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Steven Ceceri (123LoanYes)
#12 ranked lender in Rhode Island - 723 contributions

This is possible, subject to certain restrictions and requirements. Guidelines directly from HUD website are here from there Q&A Section:Is a contractor required to do the work?No. However, if the borrower wants to do any work or be the general contractor, they must be qualified to do the work, and do it in a timely and workmanlike manner. It is very important that the work be done in a time frame that will assure the completion of the work that will be agreed upon in the Rehabilitation Loan Agreement (signed at closing). A borrower doing their own work can only be paid for the cost of the materials. Monies saved can be allocated to cost overruns or additional improvements.I'd be happy to discuss this in more detail with you!

Jan 18th 2013
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Steven Ceceri (123LoanYes)
#12 ranked lender in Rhode Island - 723 contributions

Direct HUD website for your 203K Q&A's: http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/203k/faqs203k

Jan 18th 2013
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Linda Wintersteen (Linda123)
#64 ranked lender in Arizona - 1,256 contributions

what size is your current loan, and how much in rehabs? i do rehabs and construction loans linda yourloanpartnerforlife@live.com

Jan 18th 2013
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David Kosmecki (David_Kosmecki)
#35 ranked lender in Minnesota - 258 contributions

Simple answer, if you are a licensed contractor or if a licensed contractor who would be responsible for the work would hire you. David Kosmecki 763-519-1100

Jan 18th 2013
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Edgar Aranda (earanda)
#756 ranked lender in California - 93 contributions

If you have your contractors license you should be able to get this done

Jan 18th 2013
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Steve Azarch (sazarch)
#18 ranked lender in Tennessee - 93 contributions

If you are a licensed contractor, there might be chance you would be allowed to do the work but to know for sure, you need to ask the loan officer of the mortgage company that you will be using.

Jan 18th 2013
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