contractor: Does Your Alabama 203K Lender Have an In-house Draw Department???? - 03/05/11 01:08 PM
Does your 203K lender have an in-house Draw Department????
This is one very important question that most Alabama buyers and real estate agents fail to ask when comparing mortgage companies that offer FHA 203K Renovation mortgage program.  There are many mortgage companies who do "offer" FHA 203K mortgages.  Most often, they only offer the Streamline version of the program.  Very few also offer the Consultant version of the program.  Surprisingly, even less of them actually have an in-house draw department.  In fact, there are only a handful of 203K lenders with an in-house draw department.
Why is this important, you might ask????
It is very … (0 comments)

contractor: Does Your Georgia 203K Lender Have an In-house Draw Department???? - 03/05/11 12:16 PM
Does your 203K lender have an in-house Draw Department????
This is one very important question that most Georgia buyers and real estate agents fail to ask when comparing mortgage companies that offer FHA 203K Renovation mortgage program.  There are many mortgage companies who do "offer" FHA 203K mortgages.  Most often, they only offer the Streamline version of the program.  Very few also offer the Consultant version of the program.  Surprisingly, even less of them actually have an in-house draw department.  In fact, there are only a handful of 203K lenders with an in-house draw department.
Why is this important, you might ask????
It is … (0 comments)

contractor: When Can I Get My Draw on My FHA 203K Streamline Mortgage? - 02/13/11 03:05 PM
When can I get my draw funds disbursed on my FHA 203K Streamline mortgage?  This is one very critical question that most borrowers fail to think about and ask upfront. 
When doing an FHA 203K Streamline Renovation mortgage, one very important aspect that many fail to consider is the draw process.  Once you have closed on your FHA 203K mortgage, your draw funds will need to be disbursed so that your contractor can be paid.  The Streamline 203K program allows for up to 50% of the renovation costs to be paid out up front prior to the work being completed. 
How the mortgage company … (2 comments)

contractor: FHA 203K Renovation Mortgage Alabama Contractor Requirements - 12/20/10 02:55 PM
The FHA 203K Renovation mortgage gives the borrower the ability to select their contractor(s) for their renovation project. The contractor must be licensed and insured.  Documentation requirements are as follows:
 Contractor's Profile completed with at least Three (3) References Copy of Contractor's Applicable License (per local jurisdiction) Copy of Liability Insurance Policy (Worker's Compensation, if applicable) Contractor's Acknowledgment signed and date W-9 completed, signed and dated You can verify a contractor's license at http://www.genconbd.alabama.gov/DATABASE-SQL/roster.aspx.   
For your next renovation project, choose one of the largest volume 203K mortgage lenders in the country.  Call (404) 591-2453.
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contractor: FHA 203K Renovation Mortgage Georgia Contractor Requirements - 12/20/10 02:37 PM
The FHA 203K Renovation mortgage gives the borrower the ability to select their contractor(s) for their renovation project. The contractor must be licensed and insured.  Documentation requirements are as follows:
 Contractor's Profile completed with at least Three (3) References Copy of Contractor's Applicable License (per local jurisdiction) Copy of Liability Insurance Policy (Worker's Compensation, if applicable) Contractor's Acknowledgment signed and date W-9 completed, signed and dated You can verify a contractor's license at http://sos.georgia.gov/plb/contractors/default.htm.  
For your next renovation project, choose one of the largest volume 203K mortgage lenders in the country.  Call (404) 591-2453.
 
 
 
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