Practical Tips for using the 203K Renovation Loan

Special Guest: Rob Menefee

WHO WE ARE AND WHAT WE DO
EST in 1979 in White Plains, MD, FLOORING AMERICA is a full service retail and commercial flooring company.  We have 3 locations in the DC market and service VA, MD and DC.  We provide and install all types of flooring, including, but not limited to carpet, hardwood, laminate, tile and luxury vinyl.  We are certified in asbestos removal, lead paint and mold remediation. 

EST in 2006, FA DESIGN BUILD and HOME SOLUTIONS are full service, Class A General Contractors.  We are licensed and insured to handle any residential and small commercial type of projects.  We have 3 design centers in the DC market and service VA, MD and DC.  We have a design staff and architects readily available for the larger projects and in-house crews to handle the smaller work. 

WHY WOULD A REA CALL FA AND FADB?
- We will perform the work (Home Inspection list) for the seller and collect payment at settlement
- We handle every service inside and outside of the home
- With a full staff, we respond quickly, do quality work and are competitive
- We are licensed and insured in VA, MD and DC
- We have been in business for 36 years
- We provide free estimates for the buyers to help them decide on a home
- We are a pre-approved 203K contractor

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Explain why someone would use a 203K loan?

How long have you been handling 203K's and how did you qualify?

Give a real life example of a successful 203K renovation that benefited the home owner and the RE agent involved?

What type of work can and can’t be done under a 203K loan?

What is the main objection to using a 203K loan and do you have a solution?