203(k) Contractor in Philadelphia & South Jersey
Buying a fixer-upper with an FHA 203(k) loan? MatrixGC is a renovation contractor that does 203(k) work every day. We write lender-ready bids, work with your HUD consultant and lender, pull the permits and finish the job on schedule so your loan can close out.
- Philadelphia contractor license #43984
- Lender-ready bids
- Draw schedules handled
- Philadelphia & South Jersey
FHA 203(k) at a glance
Program limits from HUD. Loan approval, rates and terms are set by your FHA-approved lender.
Limited vs. Standard 203(k)
| Feature | Limited / Standard |
|---|---|
| Repair budget | Up to $75K / $5K+ |
| Structural work Walls, foundations, additions | No / Yes |
| HUD consultant | Optional / Required |
| Best for | Kitchens, baths, floors, paint, systems / Gut rehabs, additions, major repairs |
Not sure which fits your house? See HomeStyle vs. 203(k) and our 203(k) FAQ.
What a 203(k) contractor does for you
- Walkthrough before you buy. We help you understand what the house needs, ideally before your inspection deadline.
- Lender-ready bid. A detailed, line-item scope and price your lender and consultant can approve.
- Works with your consultant & appraiser. We align our bid with the consultant's work write-up.
- Permits. We pull Philadelphia or NJ township permits and schedule inspections.
- Draws & inspections. We complete work in stages that match the lender's draw schedule.
- Final sign-off. We finish on schedule so the loan can close out.
Under contract on a fixer-upper? We can walk it and start your 203(k) bid this week.
How a 203(k) renovation works with MatrixGC
- 1. Get pre-approved with an FHA 203(k) lender. Try our free 203(k) qualifier.
- 2. Find the house and schedule a walkthrough with us.
- 3. Bid & write-up. We prepare the bid; the HUD consultant prepares the write-up (Standard).
- 4. Appraisal & closing based on the after-repair value.
- 5. Permits & construction, paid through the lender's draw schedule.
- 6. Final inspection and loan close-out.
Common 203(k) projects we handle
- Full gut rehabs of Philadelphia row homes
- Kitchen and bathroom remodels
- New roofs, windows, plumbing, electrical and HVAC
- Basement finishing and waterproofing
- Additions and 3rd floors (Standard 203(k))
- Fixing inspection and appraisal items. See resolving inspection issues with a 203(k).
Real estate agent or loan officer? See our partner resources.
How to choose a 203(k) contractor
There is no official list of FHA-approved contractors. FHA does not approve or certify contractors; your lender reviews and accepts the contractor for each loan. So when people search for an "FHA approved contractor," what they need is a licensed, insured contractor who knows the 203(k) paperwork and whom the lender will accept. Lenders and HUD consultants typically look for:
- A valid contractor license and liability insurance
- A detailed, itemized bid that matches the work write-up
- Experience with the draw schedule and lender inspections
- References and completed 203(k) projects
- A realistic timeline the loan can support
MatrixGC is a licensed Philadelphia contractor (#43984). We work with your lender and consultant from the first walkthrough to the final draw. See how long a 203(k) loan takes.
203(k) for 2 to 4 unit properties
A 203(k) loan can also be used on owner-occupied properties with two to four units, which makes it a popular way to buy and renovate a Philadelphia duplex or triplex. The scope and bid work the same way, with every unit included in the write-up.
203(k) projects in South Jersey
We also take on 203(k) and HomeStyle renovations in South Jersey towns such as Cherry Hill, Collingswood, Haddonfield and Voorhees.
Recent 203(k) renovations by MatrixGC
Real Philadelphia 203(k) projects. See full case studies: N Hollywood St, Webster St, Baltimore Ave, 7th St, Somerset St, Bristol Ave.
Get a free 203(k) consultation
Found a house or still looking? Tell us about it and we'll call to walk you through scope, budget and timeline.
Talk to a 203(k) contractor before you lock your loan. The consultation is free.
203(k) contractor FAQ
What is an FHA 203(k) loan?
An FHA 203(k) loan lets you finance the purchase or refinance of a home and the cost of renovating it in one FHA-insured mortgage. The Limited 203(k) covers up to $75,000 of non-structural repairs; the Standard 203(k) covers larger projects, including structural work, with a minimum of $5,000 in repairs.
Do I need a 203(k)-approved contractor?
HUD does not issue a contractor certification, but your lender must approve your contractor. You need a licensed, insured contractor who can produce lender-ready bids, work with a HUD consultant and complete work on a draw schedule. That is what we do every day.
What is the difference between Limited and Standard 203(k)?
Limited 203(k) is for non-structural repairs up to $75,000 and a HUD consultant is optional. Standard 203(k) is for larger or structural projects with at least $5,000 in repairs and requires a HUD-approved consultant.
How do contractors get paid on a 203(k)?
Through draws. The lender releases funds in stages as work is completed and inspected, according to the schedule set at closing.
Can I use a 203(k) in South Jersey?
Yes. FHA 203(k) is a federal program available in New Jersey. We work on 203(k) projects in Philadelphia and South Jersey.
How long does a 203(k) renovation take?
It depends on scope. A Limited 203(k) with cosmetic and system work may take a few weeks; a Standard 203(k) gut rehab often takes several months. Your lender sets the completion deadline, and we schedule the work to meet it.
What credit score do I need?
Requirements are set by the lender. Many FHA lenders look for a credit score of 580 or higher for the 3.5% minimum down payment. Try our free 203(k) qualifier to see where you stand.
Are you licensed and insured?
Yes. MatrixGC holds Philadelphia contractor license #43984 and is insured, and we provide the license and insurance documents your lender requires.
Is there a list of FHA-approved 203(k) contractors?
No. FHA does not approve or list contractors. Your lender reviews and accepts the contractor for each loan, so choose a licensed, insured contractor with 203(k) experience and a detailed, itemized bid.