RENOVATION GENERAL CONTRACTORS
RENOVATION GENERAL CONTRACTORS
Highlights
Purchase & Remodel
✔ One Loan, Two Benefits – Buy a home and finance renovations in a single mortgage.
✔ Turn Potential Into Reality – Buyers can customize and upgrade a home to fit their style.
Refinance & Remodel
✔ Easier Upgrades – Homeowners can roll renovation costs into their existing mortgage.
✔ No Extra Refinancing – No need to requalify or refinance after renovations are complete.
✔ One Closing, One Fee – Simplified process with one set of closing costs.
✔ Energy-Efficient Upgrades – Eligible improvements included.
✔ Structured Payouts – General contractors are paid as milestones are reached.
Renovation Loan Options
🏡 FHA 203k – Available for primary residences only (Streamline & Full).
🏡 FNMA HomeStyle Renovation Loan® – For primary, secondary, and investment properties.
Upgrade, remodel, and invest in your home’s future—all with a simple and streamlined loan process. Let’s bring your vision to life!
Renovation General Contractor Approval Requirements
✔ Experience – Minimum 5 years in relevant construction work.
✔ Reputation – Must have verified trade references.
✔ Credit Score – Minimum 660 required.
✔ Insurance – Must carry commercial general liability coverage.
✔ Licensing – Provide copies of all state-required licenses.
✔ Transparent Bids – All contractor bids must be “Fixed Cost”, clearly outlining labor and material expenses.
✔ Restrictions –
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- No “Contractor Allowances” permitted in bids.
- Borrowers cannot act as a sub-contractor on their own renovation.
- “Self-help” programs where borrowers serve as general contractors are not allowed.
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We work with qualified, experienced contractors to ensure a smooth renovation process. Let’s build something great together!