How it works
Find a Property
Estimate Renovation Costs
Estimate Renovation Costs
Just like any purchase, know your budget - get pre approved.
Determine the best program.
Estimate Renovation Costs
Estimate Renovation Costs
Estimate Renovation Costs
Consult with a reputable contractor to determine renovation costs.
Determine property value after renovation with your realtor.
Property cost plus renovation must be no more than value after renovation.
Make an Offer
Estimate Renovation Costs
Make an Offer
Structure offer based upon Program Requirements.
Make offer subject to Renovation Financing.
Loan Approval
Loan Approval
Make an Offer
Complete property inspections.
Finalize Contractor bids.
Order appraisal and Submit application.
Engage HUD consultant or inspector.
Closing
Loan Approval
Renovations
Loan is funded with repair funds escrowed.
In most cases work must be completed and funds disbursed within 6 months.
Renovations
Loan Approval
Renovations
As work is completed, inspector approves draws and contractor is paid.
Final inspection and payment to contractor at 100% complete.
Company NMLS 250769
