• Tel: (281) 300-5260
    Email: answers@joelovrek.com

  • Consultant FHA 203(k) Draw Information

    • 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 HUD consultant and/or lender
    • Work must be completed within 6 months of closing