FAQ on 203K/Rehab Loans
Contact a 203k Lender and get pre-qualified. We can assist you in finding a lender in your area that we've worked with to insure that you'll get the best service.
Step 2
Hire a real estate professional to assist in finding a suitable property. Always choose one that understands 203k/Rehab Loans. (If you're refinancing an existing loan with a 203k/Rehab Loan, a real estate professional may not be involved).
Step 3
Set an appointment with us as your 203k Consultants. As your consultant, I will meet you at your site and review copies of the contracts and agreements required for the 203k loan given to you by your lender. After our meeting and the HUD/FHA Inspection that I will provide, I will create a "Job Specification and Bid Request", which is a list of the FHA-required repair items. I will also gather information from you on repairs and upgrades/modifications that you may want to add to the project (i.e. new cabinets and flooring, windows, etc.) I will also forward copies of the various reports to your lender to assist you in the loan process.
Step 4
Get contractor bids by using the "Job Specification & Bid Request" prepared by me as your consultant.
Step 5
Choose a contractor. As your consultant, I can assist you in the process and verify contractor compliance to the specifications. The lender will hire an appraiser and once the appraisal report is done, in most cases, your lender can close the loan.
Step 6
Schedule the contractor to begin the work. Once the work begins the contractor will require continuing inspections called "Draw Requests" to get progress payments for the work as it's completed. As your consultant I will inspect the project and prepare these documents and repeat the procedure until the project is complete.
*Although the 203K Limited (formally known as Streamlined K) program does not require a Consultant by FHA Standards, as of November 2025, the amount of the Limited K Rehab Loans has been increased to a maximum of $75,000. Due to this substantial increase, FHA now allows the fees for services of a 203k Consultant to be included in the mortgage. Therefore, It is strongly recommended that you use the Consultant to prepare the "Job Specification & Bid Request" and act as a "Plan Reviewer" to verify compliance with the specifications and perform needed progress and final Draw Inspections.
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You are in good company...

We are very satisfied with the professionalism of this company. Prompt responses and updates and John was on time and thorough. I would definitely recommend.
P. Gainey
Chicago, IL

It was really nice to be in the company of someone who works at such a level of integrity! Standards of excellence are hard to find in times like these. I will call on them again for my next home.
C. Brewrink
Northbrook, Il

John was very professional. The report was very precise and helped me understand the entire process from start to finish. I will do business with them again. As such, I highly recommend Real Inspection Services and their entire team!
A. Chapman
Lombard, IL

I am so impressed by the skill and attention to detail that Chuck, John, and their entire team bring to their work as rehab consultants. We at NAFHAC are honored to have them as Premium Members.
Catherine Hall
Executive Director, NAFHAC
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