Renovation Process

Borrower has applied for a loan with a renovation lender
Borrower is put in contact with consultant for the initial detailing scope of project.
The consultants report is completed and then reviewed by borrower.
Borrower whites out all calculation totals to obtain estimates from contractors.
When all estimates are obtained information is then forwarded to consultant for review and a possible rewrite may occur.
Borrower contacts lender for contractor/borrower Agreement Contract.
Borrower closes on loan with lender.
Work must begin within 30 days after closing.

Common Renovation Issues

No “upfront” money in renovation program.
All permits must be in place for typical release items such as electric, plumbing, heat and any structural changes.

Call A.M. Consulting’s 24-hour draw line (781-321-2247 Option #4 on menu). Please follow instructions. Or you may email request to: mpetrus@amconsults.com
NOTE: *Important* - Please call at least one week in advance for your inspection request date.
A.M. Consulting’s Operations Manager, Maria Petrus will be in contact within 48 hours to provide an inspection date.

*The borrower and contractor should both be at inspection; failure of both presences will result in check delay.
Borrower in advance should review renovation plan and fill out column #3 (based on work completed) with his/her contractor.
All current permits must be forwarded to consultant.
All documentation to be signed at draw inspection.
If all paperwork is complete at the time of the inspection all information will then be forwarded to lender within 24 hours.
*If inspector does not have all pertinent information at the draw inspection a tear sheet request form will be left at site for additional information to complete draw. Failure to complete will result in delay of check.
If all paperwork is complete at time of draw inspection, expect a check from your lender in 3-7 workdays.
Initial inquiries on check status should be directed to your lender first.

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