| |  WHAT
IS A 203K REHAB LOAN?
The Federal Housing Administration (FHA), which is
part of the Department of Housing and Urban Development (HUD), administers various
single family mortgage insurance programs. These programs operate through FHA-approved
lending institutions which submit applications to have the property appraised
and have the buyer's credit approved. These lenders fund the mortgage loans which
the Department insures. HUD does not make direct loans to help people buy homes.
Contracting Team works closely with Myers Park Mortgage in performing renovation
work for their clients.
MORE
OPTIONS:
Contracting
Team consists of many separately owned companies working as one. We are able to
offer our clients a much larger variety of choices than any one company. In regards
to countertops, we can quote Formica, Corian, Granite, resurface with an epoxy,
pour a cement countertop, install a butcher block countertop or tile over existing
surface. These options involve 5 different companies that make up our team.
LOTS
OF EXTRAS:
Every job we have done involved lots of extra items that were
not on the contract. We have replaced countertops, professionally cleaned carpets,
conducted major landscaping, replaced toilet hardware, purchased and installed
fixtures and ceiling fans and all punch list items not addressed by the 203(k)
contract. In all cases, we simply wanted our client to be very happy with us and
report back to their Realtor and the bank on their satisfaction. | |
ALWAYS ON SCHEDULE:
We always plan on having the entire job completed
one week early so there are no surprises on the final week. We accomplish this
by regularly working into the evening and on weekends to get the job done.
OUTSTANDING COMMUNICATION:
During the entire renovation process, the
Project Manager communicates with the client on a daily basis with updates on
the progress of the project and maintains communication with all contractors involved
in the project.
(Realtors)
GET PAID NOW:
With most mortgage companies the Realtor needs to wait until
the renovation is completed before they get paid. In working with Myers Park Mortgage,
the Realtor is paid immediately, before the renovation even starts. | |
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