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Renovation Mortgage Process Step #3

Renovation Mortgage Process: Inspections

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Renovation Inspections:

Determine if a HUD Consultant is Required

Welcome to the next step in the renovation mortgage process!

  • If required, the renovation specialist can help provide names of HUD-approved consultants in your State.
  • If not required, you can still have a HUD Consultant do your property inspection or a regular home inspector. – (HUD Consultant recommended if the budget will be close to $30k+ or if you suspect there may be foundation issues with the property or other true structural issues related to load-bearing walls etc. Depending on the program being used this may help avoid additional costs later and help get a solid professional eye on the property upfront that is familiar with Renovation financed programs such as the 203k)
  • Customers should make an initial list of all desired improvements (wish list) and concerns before meeting with the Consultant/Contractors.
  • HUD Consultant and/or Contractor will need copies of any inspection reports (such as structural, termite, well and/or septic if applicable).

We’ll be sure to guide you through this!

Mortgage Loan Process

Step 1: Documentation

Step 2: Contractor Selection

Step 3: Renovation Inspections

Step 4: Appraisal

Step 5: Underwriting

Step 6: Conditional Approval

Step 7: Clear To Close

Step 8: Closing

Step 9: Renovation Work Begins

Please feel free to contact us at any time if you have any questions about your loan status or the next steps in the process.

Ready to learn more?

Go back to see the previous stage in the process.

Learn about the next step in the mortgage process.