Get a free pre-qualification consultation about the basic requirements of the loan program and how it works. A 20 minute interview to determine your qualifying loan amount. This amount will include the renovation funds as well as the purchase price of the home. We will discuss how the loan works and the process flow of the loan.


Set up a phone consultation with the realtor who is helping you locate a property to discuss our objectives in looking for a property and structuring the offer to the seller for renovation financing.


Find a property to make an offer – You will select a property and write an offer to purchase the property. With the offer we will provide a pre-qualification letter stating the type of renovation loan you have been pre-qualified to obtain.


Offer is Accepted! We either will have a contractor provide a bid on the required and/or desired work on the home if repairs are below $30,000. If work appears to be above $30,000 a licensed 203k HUD consultant would be scheduled to inspect the property and develop the construction specs, then a contractor bid package will be available to obtain bids from contractors.


Contractor Selection- Contractor is selected and final bid price is confirmed. Appraisal is order based on after improved value of the home.


Underwriting of remaining items of the loan (the renovation package) – All contractor documents are signed and submitted with final appraisal. Loan is submitted for underwriting and approval.


Loan is Approved and sent to closing. Work starts after closing of the loan, and work must start within 30 days and be completed within 6 months.

Want to Walk Through the Process?

Lee Smith will chat with you about the nitty-gritty of working through the process at your speed in the easiest way possible.

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