Are you passing up opportunities on renovation loan programs due to unfamiliarity?  Absolute makes it easy - let us help!  At Absolute we take the pain out of renovation loans and help you expand your client offerings.  Contact your Account Executive today for more information!

Application Stage 

Renovation Specific Fees - REVISED 3/14/2019

Renovation Bid Guidance

203(k) Max Mortgage Worksheet

Homestyle Max Mortgage Worksheet - FNMA Form 1035

203(k) Submission Form

HomeStyle Submission Form

The Role of the HUD Consultant

Contractor Approval & Process Flow

Contractor vetting & approval will be required during the process.  In addition to the Contractor Questionnaire and other required forms, the contractor will need to provide their business license (must be licensed in the project state), evidence of at least $1 million in liability insurance, and a copy of their driver's license.  The contractor's Tax ID will be verified with the IRS and they will be vetted for on-time payment record with vendors, liens, judgments, legal issues, etc.

Contractor Validation Checklist

Contractor Validation Forms

HUD Consultant Checklist (If Applicable)

HUD Consultant Identity of Interest Form - Limited 203K

HUD Consultant Identity of Interest Form - Standard 203K

Limited 203(k) Process Flow

Full203kProcessFlow.pdf

Do I Need Both an As-is & an As-repaired Appraisal?

Note:  We do not issue early CDs on renovation loans.  Your loan will need to be CTC in order for the CD to be sent to hold your settlement date.

Post-Closing

Initial Disbursements, Project Draws & Escrowed Mortgage Payments

 Renovation Draw Guida