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...
by admin | Jun 15, 2016 | Renovation Loans
There are no restrictions on the types of repairs as long as they are affixed to the property and add value. Funds can include: Fences Decks Landscaping In-ground pools
by admin | Jun 15, 2016 | Renovation Loans
1-4 unit owner-occupied principal residence 1-unit second homes 1-unit investment properties
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