August 24, 2017

A common component of a Fannie Mae Home Renovation loan is a contingency reserve. 

A contingency reserve is  10% of the total cost of repairs and is set up prior to close.  It is used to cover unforeseen repairs or deficiencies that may be encountered in the rehabilitat...

August 17, 2017

For both types  of 203(k) loans, Standard or Limited, you will need to have something called a Contingency Fund.  The Contingency Fund is 10% of the actual repair amount. This money is set aside to cover unplanned repairs that become necessary due to health or safety i...

August 10, 2017

They are the overseer of the entire construction process when it comes to 203(k) loans.  They insure the renovation repairs requested and the property itself meet HUD's minimum property standards. They provide the initial assessment of the projects feasibility and have...

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OneTrust Home Loans is trade name of the legal entity, CalCon Mutual Mortgage LLC, a Delaware LLC (NMLS #46375). The OneTrust name has been registered in most states where CalCon operates, and in those states where it is not registered, we operate as CalCon. Equal Housing Lender. Matt Glynn NMLS #845662 / Matt Mounier NMLS #1378630 

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