Your Trusted 203k Consultant Guiding You Through Every Step
Serving Chicagoland with 203k Loan Expertise Helping You Complete Renovations Effortlessly.
Expert 203k Consulting Services
Led by Greg Hasenhuettl, Licensed 203k Consultant
At Pegasus Construction, we offer professional 203k Consulting Services focused on required inspections and project oversight for FHA 203k loans. Greg Hasenhuettl, our licensed 203k Consultant, brings over 20 years of construction experience to each project, ensuring precise documentation and smooth project execution. Check Out our other services: Project Management, Quality Inspections and Draw Inspections.
Comprehensive 203k Consulting & Inspection Services
Detailed Inspection and Compliance for FHA 203k Loans
Our licensed 203k Consultants perform critical inspections and documentation to ensure your project stays on track and is fully compliant with FHA guidelines:
Scope of Repairs (SOR)
We create a detailed Scope of Repairs (SOR) to outline every aspect of the renovation. This includes:
Comprehensive list of required repairs and improvements
Cost estimates and material specifications
Compliance with FHA guidelines
Bid on Repairs (BOR)
We coordinate the Bid on Repairs (BOR) process, ensuring all contractors provide clear and competitive bids that match the SOR. This helps lenders understand the project’s scope and required budget.
Draw Inspections
During the renovation process, we conduct regular Draw Inspections to verify project milestones and approve construction progress. Our role ensures that work is completed to standard before any further funding is released, protecting both the homeowner and the lender.
Final Inspection & Certification
At project completion, we perform a Final Inspection and provide the necessary certification for project closure. This guarantees that all renovations meet HUD standards and are properly documented.
Transparent 203k Consulting Pricing
203k Consulting Service Pricing
Homestyle - Consulting Fees
| Consultant Fee | Repair Cost |
|---|---|
|
$1,000.00 |
Less than or equal to $50,000 |
|
$1,200.00 |
$50,001 – $85,000 |
|
$1,400.00 |
$85,001 – $140,000 |
|
Up to 1% |
$140,001 to $200,000> $140,001 1% additional for every $10,000
Example 150,000 repair cost consultant fee=$1,500
|
|
$2,500 |
$200,001 to $300,000 |
|
$3,500.00 |
>$300,000 |
|
$375.00 |
Per draw (Max 5 draws) |
|
$120.00 |
Per change order request |
|
$0.67 |
A mile beyond 15 miles from the consultant office. |
203k - Consulting Fees
| Consultant Fee | Repair Cost |
|---|---|
|
$1,000.00 |
Less than or equal to $50,000 |
|
$1,200.00 |
$50,001 – $85,000 |
|
$1,400.00 |
$85,001 – $140,000 |
|
Up to 1% |
For repair costs or $2,000, whichever is lower, for repairs over $140,000 |
|
$25 |
An additional $25.00 per additional dwelling unit |
|
$375.00 |
Per draw (Max 5 draws) |
|
$120.00 |
Per change order request |
|
$0.67 |
A mile beyond 15 miles from the consultant office. |
|
– |
– |
Why Choose Pegasus Construction?
Our Commitment to Exceptional 203k Consulting?
Certified 203k Consultant – Licensed and experienced in FHA 203k guidelines.
Streamlined Documentation – We handle all the paperwork and requirements, making the process hassle-free.
Transparent Communication – Clear updates at every stage.
Proven Expertise – Helping homeowners maximize their 203k renovation projects with confidence.
Streamlined 203k Consulting Process
Our Step-by-Step Consulting Approach
Step 1: Initial Consultation & Property Assessment
Step 2: Scope of Repairs (SOR) & Bid on Repairs (BOR) Preparation
Step 3: Draw Inspections During Construction
Step 4: Final Inspection & Certification
Our process ensures compliance, transparency, and timely completion, giving you peace of mind.
Servicing Chicago and the Surrounding Suburbs
Chicago Neighborhoods
Surrounding Suburbs
Our team of experienced builders has a solid track record when it comes to creating exceptional spaces. We ensure that the construction process is stress free, with transparent communication on both deadlines and cost estimates – guaranteeing you’ll no un welcome surprise.
Frequently Asked Questions
A 203k Consultant assesses the property to identify required repairs, prepares the Scope of Repairs (SOR), and ensures compliance with FHA guidelines.
The SOR includes a detailed list of all necessary repairs, estimated costs, material specifications, and any required code compliance updates.
The number of draw inspections depends on the project's scope but typically ranges from 3 to 5 throughout the renovation process.
During a draw inspection, the 203k Consultant verifies the work completed, ensures it matches the SOR, and approves it for the next phase of lender disbursement.
A 203k Consultant is required for Standard 203k Loans but is optional for Limited 203k Loans unless the lender requests one.
The SOR outlines the renovation requirements, while the BOR is a contractor's estimate to complete the work detailed in the SOR.
Yes, the consultant will document discrepancies and provide recommendations to ensure compliance with the project plan.
The final inspection verifies that all repairs are complete and meet HUD standards, allowing the lender to close out the loan.
Costs vary depending on the project size and complexity. Our pricing table provides a detailed breakdown of services.
Yes, you can easily schedule inspections by contacting us at 773-377-4898 or using our online form.
