The process is just 4 easy steps...
Find a house you are interested in that requires renovating.
Contact Renovation Consultants who will then conduct a “Feasibility Study” on the house at a small initial $250 investment fee.
The “Feasibility Study” is where Renovation Consultants evaluate the home and calculates a ball park value for the renovation work.
The Feasibility Study has three considerations:
- Mandatory renovations required by HUD.
- Recommended renovations by the Consultant.
- Desired renovations by the Owner.
Renovation Consultants can give you a list of contractors that are qualified to do the FHA 203K renovations.
The Consultant will work with you and the contractor that YOU choose to get the proposal to do the work.
Renovation Consultants can give you a list of mortgage companies that will finance the FHA 203K Renovation loan. The lenders will see if you qualify for the renovation work to be done, based on the Feasibility Study, and the purchase of the home.
The initial $250 investment fee will also be reimbursed through the qualified loan. If you have not qualified for the loan, the initial $250 investment fee still applies.
Renovation Consultants will then work with you, the contractors and the bank to complete the renovations.