Aptitude Design & Build is a Preferred Contractor for your 203(k) Loan

The purchase of a home that needs repairs or improvements is often a difficult situation.

You can’t get a loan to buy the house until the work is complete, and the work can’t be done until the house has been purchased.

HUD’s 203(k) home loan program can help you overcome this obstacle by enabling you to purchase a property plus finance the cost of making the repairs and/or improvements all in one FHA loan.

Why is it important to use a Preferred Contractor?

It is very important to use a Preferred Contractor for your remodeling project using a 203(k) loan. We have done this kind of work before, and know the process and paperwork involved. We are also well versed in the ways to use your remodeling funds to maximize your home value, giving you the best return on your investment in your home.

Some of the allowable improvements include:

  • Basement Finishing
  • Minor Kitchen Remodeling
  • Plumbing & Electrical Systems
  • Flooring / Carpet
  • Painting Interior & Exterior
  • Roofing / Gutters / Downspouts
  • Window & Door Replacement
  • Weatherization – Storm Windows / Doors / Insulation
  • Repair, Replace, or Add exterior Decks / Porches / Patios
  • Basement Waterproofing
  • Exterior Wall Re-Siding

It is very important to select the right contractor.

Some key restrictions to the program include:

  • Borrower must obtain bids for all repairs and work to be completed
  • Borrower Must Use licensed contractors for repairs
  • Repairs must begin within 30 days of closing & be completed within 60 days of closing
  • Two payments will be made to each contractor – 50% up front & 50% upon completion of work
  • Borrower must submit all bids to appraiser for current & after repair value determination
  • Appraiser will conduct a final inspection after repairs are completed
For more information on this type of loan,
contact your 203(k) loan specialist:


Andrew Biro
Vice President – NMLS# 742327
Office (314) 647-1198
Fax (314) 647-1378
abiro@heartlandpremier.com
www.stl203k.com
2203 S. Big Bend Blvd.
St. Louis, MO 63117