Choosing The Right FHA 203k Rehab Contractor
This Article In Choosing The Right FHA 203k Rehab Contractor Was Written By Candice Mack
Good Morning and Happy Sunday everyone. Today I want t talk about how important it is in choosing the right FHA 203k Rehab Contractor when getting a FHA 203k Rehab Loan. Having the ability to view a property that needs work, vision what it will look like once it is completed, then adding the total cost of the rehab into your mortgage loan is an amazing feeling. What’s not an amazing feeling is having a general contractor who takes on your project and leave you hanging n the end, after exhausting half of your budget on 20% of the scope of work that’s needed. You can change FHA 203k Rehab Contractors during the mortgage process. Changing FHA 203k Contractors can be done which I will cover on another blog article on Gustan Cho Associates Mortgage And Real Estate Information Center.
My Experience In Choosing The Right FHA 203k Rehab Contractor
This happened to me and I don’t know what I would have done if I did not have the passion that I have about watching HGTV daily, and a very creative vision of bringing things back to life. If you know me personally or see me out I’m always in a fur coat and or a trench, and a stiletto heel. Never in a million years did I think I would ever have to put on a hard hat and some construction boots. When you’re left with no option, your budget halfway gone, and 80% of the project still needed to be completed, you’re left with no choice. I’m sure many of you have gone into properties and have seen many of them with work started and never completed, or completely demoed down to the frame work. A lot of properties are left in these conditions because of similar situations like mine. They we’re put in a situation where the property was quoted under budget for the renovations, and or they ran out of personal funds to continue the project themselves. That’s why it is very crucial to hire a brick paving contractor or any other that is very experienced in the construction business. Especially if you’re doing a full FHA 203k renovation mortgage loan. The scope of work received by your contractor is the number that the bank determines your project will cost, and the number you will work with over the term of your renovation project. I can write a book on his topic, but I want to take my time and really help you understand how to direct a contractor, and how to avoid having to walk away from your property that was once a vision like no other. Stock with me and you will avoid many of the mistakes that I made while purchasing my first property and hiring the contractor that I did. The best advice to take is from those who have experience in what you’re seeking to accomplish! Have a great evening and stay tuned world!
About The Author: Candice Mack
Candice Mack is a staff writer for Gustan Cho Associates Commercial And Residential Mortgage Information Center and is a licensed mortgage loan originator and FHA 203k Loan Specialist for The Money Store. Candice Mack is an expert in FHA 203k Loan Origination as well as an expert in originating and processing all types of FHA Loans, VA Loans, USDA Loans, Reverse Mortgages, Jumbo Mortgages, and Conventional Loans. Candice Mack is a true inspiration for The Money Store’s Downers Grove, Illinois branch and is a natural leader where she does not hesitate any newer loan officer who needs help in going over case scenarios. Candice Mack will be writing articles weekly on Gustan Cho Associates in areas of her expertise as well as her experiences to share with our viewers and clients. We are grateful to have Candice Mack as part of our growing team of mortgage professionals. Candice Mack is available 7 days a week, weekends, evenings, and holidays to take on any calls to answer any questions with regards to specific case scenarios on all types of lending. Candice can be reached at 312-605-0371 or you can email Candice Mack at firstname.lastname@example.org. Candice Mack NMLS ID number is 1281079.