by admin | Jun 15, 2016 | Renovation Loans
Contractor Package – FannieMae Streamline Contractor Package – Consultant Contractor Package – 203k
by admin | Jun 15, 2016 | Renovation Loans
Bid Requirements Submitted on the contractor’s letterhead and include the contractor’s contact information, name of company, name of primary contact, business address, telephone number, email and contractor’s license number. Be issued to the borrower...
by admin | Jun 15, 2016 | Renovation Loans
1-5 draws allowed No advances allowed; no materials draws allowed Proof of permits required Requests for use of contingency funds may be allowed with lender approval Work must be completed within 6 months of closing (loan amounts over $75,000 up to 9...
by admin | Jun 15, 2016 | Renovation Loans
Two draws per contractor allowed 50% of the bid amount is disbursed 7-10 business days after closing Remaining 50% of bid amount is disbursed upon job completion Proof of permits is required No holdbacks on draws Requests for use of contingency funds are limited to...
by admin | Jun 15, 2016 | Renovation Loans
1-5 draws allowed per Work Write-up Materials draws allowed for cabinets, flooring, windows and roofing Proof of permits required 10% holdback on all draws, except the final draw Holdbacks are paid on final draw Requests for use of contingency funds may be allowed per...
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