The Contractor requirement steps of the Renovation Loan Programs such as the FHA 203k, Fannie Mae HomeStyle, VA Renovation, and Jumbo Renovation Loan options may be one of the most important steps to pay special attention to in regards to completing a successful and timely Loan Process.
If you are looking to Purchase a Property that will need Renovations you may also have a need to then partner with a Realtor. This page is designed to give you some quick pointers on what to look for and anticipate when searching & working with a Realtor on a FHA 203k transaction or any other Renovation Loan Program.
Proper upfront identification of possible defects, violations, or minimum Property Standard related items requiring repair for loan approval will:Save All Parties Time and Money
When considering the use of the FHA 203k Program or any other Renovation Loan Program its important to first have a better understanding of what is referred to as Minimum Property Standards. These are items related to the overall Safety Health and Soundness of a Property.