Contractor Regulations
The HOUSE Team’s Renovation Loans allow for various maximum contractor limits. Please contact The HOUSE Team for more on how many contractors are allowed per loan type.
Contractor Rules & Regs
Below are a few basic regulations associated with the contractors that will be performing the Renovation work. Contractor rules & regs may differ from loan to loan and there may be more than what is listed below.
1. Contract cannot be the buyer, buyer’s family or friend
2. Contractor must meet PrimeLending minimum contractor regulations
Contractor(s) must be approved by our Renovation department. Documents needed to review/approved a contractor include:
- Escrow Holdback Checklist (click opens in a new windowHERE for sample)
- W-9 from Contractor (click opens in a new windowHERE for sample)
- Contractor Permit Advisory
- Itemized Bid (click opens in a new windowHERE for sample)
- Borrower Acknowledgement of Repair Escrow
- Borrower’s Contractor Acknowledgement
- Contractor Profile Report (click opens in a new windowHERE for sample)
- Applicable licenses
- Liability Insurance
- BBB info/trade association memberships
Other Renovation Resources
opens in a new windowHomeStyle Reno Loan opens in a new window
Build or Repair a Pool Escrow Holdback
opens in a new windowFHA Escrow Holdback opens in a new window
USDA Escrow Holdback
Team Phone: 602.435.2149
Team Email: Team@JeremyHouse.comcreate new email