
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
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