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February - 8th

Villa Nova Restaurant
237 St. Charles Road
Villa Park, Illinois 60181

The meeting begins at 5:30, dinner at 6:30, there will be no Associates Corner because of the amount of content in the presentation.

FHA Inspections

Presented by
Charles Bellefontaine

In this rapidly changing real estate environment, we are all looking for new ways to generate revenue to supplement and in some cases replace the dwindling supply of retail home inspection business available in our communities. While conventional lending has rapidly declined, the number of FHA insured loans has more than doubled in the last 4 years. All of the properties being purchased with these "FHA mortgages" MUST meet minimum housing standards as identified by an appraisal. Most of these homes, as you already know, will NOT! There are five different types of certifications. Roofing, Structural, HVAC, Plumbing, and Electrical. We will provide you with the forms and letters to get you started in this process.

If the home is in poor enough state, it may qualify for a FHA 203k mortgage. This is where the homebuyer can obtain the funds to both purchase the home and rehab the home.   This is why the 203k loan w as created. And with that loan you as a qualified inspector, are more needed than ever. If you have three years experience as a certified (licensed if applicable in your state) home inspector, or contractor, you can become a 203k Consultant and open a whole new area where you take advantage of your inspection skills. You will earn as much as $400 to $1200 per inspection plus extra fees for progress draw inspections and in some cases even earn mileage expenses of 55 cents per mile ROUND TRIP!!!

Last, but not least, we will show you the process of becoming a HUD REAC inspector and how to obtain the training for free. All HUD assisted and insured housing (Public Housing and Multifamily Housing) covered under the Department's Uniform Physical Condition Standards (UPCS) regulations must be inspected by individuals certified in the Department's UPCS inspection protocol and procedures. The Physical Assessment Sub System (PASS) of the Office of Public and Indian Housing - Real Estate Assessment Center (PIH-REAC) facilitates these inspections of all HUD-affiliated properties.

The UPCS Inspector Certification Training Program is operated by PIH-REAC. This Certification Training Program is specifically designed for inspectors to become certified to conduct the REAC inspections. In order to participate in this training, you must already have sufficient inspector skills, computer skills and experience as an inspector.

So, if you want to increase your revenue by one or more of these government programs, don't miss this session.

Links to help you with getting involved with FHA, VA, and HUD Inspections

FHA Certification Forms

FHA Certification Checksheet

HUD Letter that allows home inspectors to perform FHA Certifications

Instructions to become a 203K Consultant

Instructions to become a REAC Inspector

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