For a Standard 203(k) transaction, the 203(k) Consultant fee, subject to the limits in the 203(k) Consultant Fee Schedule listed below, may be financed. For a Limited 203(k) transaction, a 203(k) Consultant fee may not be financed. Below are the maximum fees that may be charged by the Consultant:
Feasibility Study
If requested by the Borrower or Mortgagee (lender) to determine if a 203(k) mortgage is feasible, the Consultant may charge an additional fee of $100 for the preparation of a Feasibility Study.
Work Write-up
The Consultant may charge the fees listed below for the preparation of the Work Write-Up and review of architectural exhibits:
• $400 for repairs less than $7,500
• $500 for repairs between $7,501 and $15,000
• $600 for repairs between $15,001 and $30,000
• $700 for repairs between $30,001 and $50,000
• $800 for repairs between $50,001 and $75,000
• $900 for repairs between $75,001 and $100,000
• $1,000 for repairs over $100,000
The Consultant may charge an additional $25 per additional Dwelling Unit.
Draw Inspection Fee
For each draw request, the Consultant may charge an Inspection Fee that is reasonable and customary for work performed in the area where the property is located, provided the fee does not exceed a maximum of $350.
Change Order Fee
The Consultant may charge $100 per change order request.
Re-inspection Fee
The Consultant may charge a $50 fee when re-inspection of a Work Item is requested by the borrower or Mortgagee.
Mileage Fee
The Consultant may charge a mileage fee at the current Internal Revenue Service (IRS) mileage rate when the Consultant’s place of business is more than 15 miles from the property.
For additional information see Handbook 4000.1 II.A.8.a.vi(D); II.A.8.a.vii(G); II.A.9.c at https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh