Documents Needed for a Full 203K

Documents requiring signatures by borrower(s) and contractor(s):

___ Contract Proposal matching Consultant write up

___203K Homeowner/Contractor Agreement (HUD form 2420 Rev 1/5/05)

___ Contractor’s Profile Report(rev 1/28/16)- all reference names/phone numbers must be legible.  If a business name is provided make sure a contact name is listed.  We must get a verbal reference from every reference listed.

___Notice to Contractor (Contractor Signature only – Rev 1/28/16)

___Current license for Contractor (and all sub contractors).  In NH general contractor’s are not currently licensed.

___Contractors liability insurance with minimum coverage of $500,000.  Insurance agent must provide a certificate  listing borrower(s) name(s) and property address as an additional insurance.  (required for all sub contractors as well).

Documents requiring signatures by borrower and HUD Consultant:

___203K Consultant Agreement

___203K Consultant Write Up/Specification of Repairs

___203K Draw Release form – Initial

___203K Consultant AddendumAn addendum is a separate document that becomes part of the Purchase and Sales Agreement. It is used when something needs to be added, clarified, or changed after the main contract has already been written. Once everyone signs the addendum, it becomes... More/Statement – not a Home Inspector

___203K Identity of InterestInterest: the cost of borrowing money, charged as a percentage of the outstanding balance and paid in arrears (unlike rent, which is paid in advance). More

Documents requiring signatures by borrower(s) only:

___Contractor Selection Form (Rev 1/28/16)

___Borrower Summary (Rev 1/28/16)

___Rehabilitation Loan Permit Certification – All sections completed – signed by borrowers and

municipality. (Rev 12/14/15)

___203K Borrower’s Acknowledgment (box in left hand column must be checked & LO must sign.

HUD Form 92700-A Rev 8/95))

___Addendum to P&S stating borrower is using 203K financing if Sales Contract does not include