Homebridge is updating our 203(k) Standard and Limited renovation forms.
Updated Renovation Forms
The 203(k) renovation forms are being updated as detailed below:
- The Contractor Acknowledgment is no longer required and has been replaced with the following:
- Renovation Disbursement Acknowledgment – Standard, signed by the contractor and borrower (one per contractor), OR
- Renovation Disbursement Acknowledgment – Limited, signed by the contractor and borrower
- The Renovation Homeowner Contract has been renamed to Homeowner Contractor Agreement
The 203(k) Standard and Limited guidelines have been updated and posted on the Homebridge website at www.HomebridgeWholesale.com
The new Renovation Disbursement Acknowledgment form will be required on both Standard and Limited 203(k) loans with an initial Homebridge loan approval dated on or after March 1, 2022
Homebridge will continue to accept the Contractor Acknowledgment form if the initial 203(k) loan approval was prior to March 1, 2022
The updated forms have been posted on the Forms page of the website under Renovation Forms, 203(k) Specific and all supporting materials under Renovation Specific on the Working with Us page.
If you have any questions, please contact your Account Executive.