Updated kitchen, bathrooms, flooring, etc.

New kitchen cabinets, updated bathrooms, brand new carpet.

Nre kitchen cabinets, updated bathrooms, new doors and trim.

New kitchen cabinets, updated bathrooms, brand new carpet.

We have a LOC with our main banking contact for rehabs/updates and we are making enough in rental income that we could probably purchase a couple of homes a year free and clear.  

As far as ROI, there are a few givens that will always give the majority or even dollar for dollar back, such as landscaping, flooring, updated kitchen and bathrooms, and security systems.

They offers great terms and timely updates.

Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule:The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 50% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information:Ø Signed Draw Request by borrower and contractorØ Signed All Bills Paid AffidavitØ GMG review and approve the draw request and will release funds for disbursementØ A check will be issued in the name of the borrower and contractor and delivered to borrower via USPSØ An inspection of work to date will be performed at 50% completeFinal Draw Information:Ø Signed Draw RequestØ Final inspection/Completion Certificate will be required for release of final fundsØ A Title Update showing property free from lien or encumbranceØ General Contractor’s Lien Waiver AffidavitØ Affidavit of Completion GR will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns:Changes to the initial plan are not permitted unless prior approval by Guaranteed Rate.

Application Deadlines are updated on a rolling semi-annual process for each program, with the current upcoming deadlines as of this post shown below: Small Deadline: 11:59 a.m.

Hey Lucas, just wanted to know if you have any update to share.