| "The 203(k) loan is the most important renovation tool you can use. This loan is single handedly putting this countries housing stock back together again - one house at a time." ~Chris Colvin, Gravity |
Chris Colvin
Looking for a 203(k) renovation loan?
This is a GREAT place to start for a GA 203k...
Ok, so you found a house that you LOVE-and you want to do some RENOVATING...
First things first- You need a lender. Now.
The 203(k) loan is not like other loans - you need someone who has a track record for closing these things.
Ask them if they have, and then start checking the blogs out there - such as ActiveRain or Trulia... or just Google
the question with the Lenders name. As HUD Consultants, we have worked with dozens of Lenders and Loan
Officers, and they are NOT created equal. So, ask us.
Want to know what FHA thinks before you are under contract?
You should. This is an option we have had great success with, and without a doubt - will smooth out the path to
your closing. What we have discovered is that to get us on site for a Compliance Inspection will answer every
question you have about the house, as well as take the mystery out of what FHA & HUD want to see corrected.
Nothing like a little peace of mind, and a whole lot of knowledge. Plus, we can explain how a "monitored
construction loan" works- which is exactly what a 203(k) is. From what materials cost to what FHA and the
underwriter are going to want to see - 203(k) is what we do, and we love to talk about it.
We will be your HUD Consultant.
It is VERY important to remember that the Lender DOES NOT choose the HUD Consultant for you, nor should
they suggest a Contractor. We are a neutral third party that watches both the Lender and the Contractor, and we
are with your renovation to the very end.
That being said~ check your schedule and call us.
So what happens next?
First, we will meet you on site, go over the scope of work and asses the whole situation.
A mandatory list of repairs will be determined, and you will need to come to grips with your Wish List. It is very
important to define what "Lifecycle Value Improvement" means, as making smart choices about what to repair
first aren't always obvious to first time home buyers. We are also going to push you to start getting bids from
Contractors... as this loan WILL NOT CLOSE without a Georgia licensed contractor who can successfully
complete the Lender's Contractor Validation Package.
When we have a final bid in place, the Consultant builds the files required to get you through Underwriting,
some of this paperwork starts the day we first meet. To close a 203(k) loan generally takes 45 days, so the
sooner this whole process starts - the faster you will sit at closing . A 203(k) loan is not famous for its
instant gratification - but the end result is more than worth it. As construction begins, we stick with your project
and release the funds to the Contractor - all the way to end.
Across the South East, we have done hundreds of these loan Consultations, and thousands of Draw Request
inspections - you can rely on us.
First things first- You need a lender. Now.
The 203(k) loan is not like other loans - you need someone who has a track record for closing these things.
Ask them if they have, and then start checking the blogs out there - such as ActiveRain or Trulia... or just Google
the question with the Lenders name. As HUD Consultants, we have worked with dozens of Lenders and Loan
Officers, and they are NOT created equal. So, ask us.
Want to know what FHA thinks before you are under contract?
You should. This is an option we have had great success with, and without a doubt - will smooth out the path to
your closing. What we have discovered is that to get us on site for a Compliance Inspection will answer every
question you have about the house, as well as take the mystery out of what FHA & HUD want to see corrected.
Nothing like a little peace of mind, and a whole lot of knowledge. Plus, we can explain how a "monitored
construction loan" works- which is exactly what a 203(k) is. From what materials cost to what FHA and the
underwriter are going to want to see - 203(k) is what we do, and we love to talk about it.
We will be your HUD Consultant.
It is VERY important to remember that the Lender DOES NOT choose the HUD Consultant for you, nor should
they suggest a Contractor. We are a neutral third party that watches both the Lender and the Contractor, and we
are with your renovation to the very end.
That being said~ check your schedule and call us.
So what happens next?
First, we will meet you on site, go over the scope of work and asses the whole situation.
A mandatory list of repairs will be determined, and you will need to come to grips with your Wish List. It is very
important to define what "Lifecycle Value Improvement" means, as making smart choices about what to repair
first aren't always obvious to first time home buyers. We are also going to push you to start getting bids from
Contractors... as this loan WILL NOT CLOSE without a Georgia licensed contractor who can successfully
complete the Lender's Contractor Validation Package.
When we have a final bid in place, the Consultant builds the files required to get you through Underwriting,
some of this paperwork starts the day we first meet. To close a 203(k) loan generally takes 45 days, so the
sooner this whole process starts - the faster you will sit at closing . A 203(k) loan is not famous for its
instant gratification - but the end result is more than worth it. As construction begins, we stick with your project
and release the funds to the Contractor - all the way to end.
Across the South East, we have done hundreds of these loan Consultations, and thousands of Draw Request
inspections - you can rely on us.
Ask a GA HUD 203k Consultant. We're listening...
Before...
...After
An example of a HUD 203(k) we designed and Consulted in Atlanta
Just now starting the process with a HUD 203(k) loan?
ALL RIGHTS RESERVED 2010
