REFINANCE AND RENOVATE YOUR HOME SPEAK TO A BANKER ABOUT QUALIFICATION 1 Apply for Free with one of the participating banks at detroithommortgage.org or visit any branch location. Your loan officer will help you navigate how to pay off existing mortgages (if applicable) and include renovations into your new Detroit Home Mortgage. BECOME EDUCATED 2 Schedule dates and times for the following home buyer education classes -HUD Certified Homebuyer Education Class -High CLTV Class -Renovation Class You can find a complete list of our homebuyer educators and a calendar of upcoming classes at detroithomemortgage.org. o DOCUMENTS TO GATHER: CERTIFICATE OF COMPLETION FOR EACH OF THE COURSES CHOOSE A PROJECT MANAGER 3 If your construction projects require over $35,000 of work, you will meet with a Detroit Home Mortgage approved Project Manager. The Project Manager will help you develop a specific list of items for renovation along with a proposed cost range (scope-of-work) so you can be well informed when looking for contractors. There is a $450 out-of-pocket fee associated with this step of the process. o DOCUMENTS TO GATHER: SCOPE-OF-WORK FIND A CONTRACTOR 4 Once you have your scope-of-work, it is your responsibility to research and select contractors who will get the job done properly and on time. Your Project Manager may recommend some contractors to assist you, but you are not required to use their services. Keep in mind that acceptable contractors have proper licensing and insurance. o DOCUMENTS TO GATHER: CONTRACTOR INFORMATION, LICENSE, AND INSURANCE. RENOVATE YOUR HOME AND ENJOY 6 You should allow up to six months for the renovation of your house.The work will be inspected by the bank monthly to make sure your home is on track for completion. Enjoy your newly renovated home! Follow Detroit Home Mortgage on Facebook and Twitter. Submit photos into our direct message inbox or tag your photo with #OwnSweetOwn. CLOSE ON YOUR NEW HOME 5 We suggest turning in the documents listed above to your loan office as you move through each step.