Realtor Remodel Program with Prime Lending
California Renovation has partnered with Prime Lending to facilitate your home improvement project. This is a 30-year fixed loan program with market competitive interest rates.
Applications begin with a phone call to Rick Carrie at 530-231-3165 in Davis, California. This 5-step process takes about 30-45 days from application beginning to funding.
STEP 1: Borrower selects a property. Begins loan process by providing all credit documents to loan officer including paystubs, bank statements, etc.). If this involves an existing home modification, a home inspection must be scheduled. In addition, a contractor and/or structural engineer must provide contractor documents to the party doing the work.
STEP 2: Borrower collects bid from California Renovation, has completed contractor documents in hand, including W9, and copy of contractor’s license and proof of general liability coverage to loan officer. Loan officer submits to processing.
STEP 3: New appraisal ordered with bids to appraiser. File is submitted to underwriting for initial review/consult. Appraiser provides report with “As Completed” value appraisal and is sent to processing.
STEP 4: Contractor package and appraisal are reviewed for Escrow Holdback approval and contractor is registered. The appraisal and any outstanding conditions are submitted to Underwriting for “clear to close”. Loan funds and file sent to disbursement team. Welcome email sent to applicant.
STEP 5: Inspector will determine draw and amount of draw by job. Draw analyst processes the draw request and paperwork. Renovation is completed.
Core renovation services can include the following:
- General Construction
- Artificial Turf
FULL SERVICES – ALL TRADES AVAILABLE!
Start the process with a call to Prime Lending at 530-231-3165.