No need to do it on your own, Rehab Financial is here to help! We’ve compiled some of the forms and documentation you’ll need throughout your project, from estimate of repairs forms to the draw procedures. Use the documents below as needed.
Contractor Application Form
It’s important for both you and Rehab Financial Group to know that your contractor has the financial stability to complete your project. As a measure of assurance that they have the adequate resources, financial track record and experience to do a great job, have them complete this application form and send us a copy. This is a standard form for any large project, and any professional who refuses to fill it out should be avoided. If your project is new construction, use the builder application form.
Builder Application Form
Starting from the ground up on a new structure? You’ll definitely need a reliable builder. Have your potential builder fill out this form to verify their financial status, experience and ability to complete your project. We’ll need a copy of this too. This is a standard form for any large project, and any professional who refuses to fill it out should be avoided. If you’re working on an existing structure, use the contractor application form.
Draw Procedures Form/Document
When you’re ready to pay your builder or contractor, use these procedures to get your check. The work will need to be 100% complete and inspected by one of our approved inspectors. Please call the inspector directly to schedule an appointment. Be sure to give sufficient notice for the inspection. The inspector will take pictures of completed work and report back to us. If everything is done to our satisfaction, we should be able to release your funds by the first business day after we receive the inspector’s report.
Tax-Return Release Form (4506T)
You’ll need to use this form to give Rehab Financial Group access to your previous federal tax returns. We’ll only use this if something goes awry with your loan, or we feel that fraudulent documents may have been used to secure the loan. This is another industry-standard form when applying for a loan.
Estimate of Repairs Form
Use this handy form to come up with an accurate estimate for your rehab job. This is just an example of a form and you may change it or use your own form, but we want to see that you have thought out what improvements you are planning on making and their projected costs. It’s important for us to make sure that your loan amount matches the job, so that there are no funding issues along the way.