Contractors and the 203k

Contractors who are involved with the 203k will be relieved to know tht the slow pay from our best lenders is coming under control. I'm happy to report that while the sudden burst of 203k business put everyone behind the eight ball with regards to paying out draws it seems to be coming under control. I know they all have been working to ease the situation but hang in there I'm already seeing a marked improvement.

The major lenders in this program have made recent changes in the way they handle draw request that is clearly making a difference. Just relalize that if you have had some delays in the past they are getting better and they should be totally back to normal in a few more weeks.

If you are new to the 203k you likely will not see a problem. Remember that while the Streamlined k does provide money up front to help you with material expenses the big box stores like Lowes and Home Depot do have programs in place that can save you money and carry you between draws. My web site will have more information on these programs but if you need more info before that happens just ask. They both will take your bid request and provide you with costs and if you take them the entire bid request so they can price it for you and it is greater than $2500 they both will offer you greater discounts for buying from them. These additional discounts could be as much as 25-30% on material costs so it is worth it to look into it. Home buyers can take that list in for quote as well to save money on the materials.