Home Owner and Contractor Relationship

There are no funds available for up-front start up costs.

This loan is in a mortgage program with set program requirements that must be followed.

All funds are disbursed after work has been completed in a workmanlike fashion and signed off on by the inspector.

All funds are released if work is completed as per the work write-up

Do no complete work unless outlined in the specification of repairs form (work write-up).

There will be no funds for changes unless approved by the Lender first.

All disbursement will be less a 10% holdback.

All disbursements will be made by two party checks to the contractor and borrower/ homeowner.

All contractors must:

- Complete the enclosed Homeowner/ Contractor Agreement

- Attach a copy of your state business license or proof contractor by trade

- Complete the enclosed W-9 form

- Attach a copy of your insurance binder showing general liability and workers compensation if you have employees