Do i need to Refinance and you will Fix My personal House or apartment with a beneficial 203k? Most recent license Liability insurance policies, problems and you may omissions insurance, and you will a bond Contractor’s restart showing functions experience Workman’s compensation insurance policies in the event your specialist has actually employees or employs sandwich-contractors Composed providers references claiming this new contractor is within a great report having prior clients Contractor’s part of the 203k Resident/Contractor arrangement W9 Even more 203k versions HUD-92700 203k Worksheet (provided by the lender) FHA 203k Homeowner/Builder Arrangement (must meets bid buck numbers and something required of per contractor) Yes. New 203k refinance functions as get program. Instead of the purchase price being toward 203k worksheet, the latest “purchase price” often generally function as the pricing to repay the current loan. Essentially, the brand new repair costs are placed into the degree of the current mortgage equilibrium to search for the complete the brand new loan amount.