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  • Homestyle Change Order Request (form 1200). Single-family - Selling & Servicing Forms

Get Homestyle Change Order Request (form 1200). Single-family - Selling & Servicing Forms

HomeStyle Change Order Request THIS IS A MODEL DOCUMENT FOR USE IN HOMESTYLE LOAN TRANSACTIONS. THIS FORM IS PROVIDED AS AN EXAMPLE AND IS NOT VALID AND ENFORCEABLE IN ALL JURISDICTIONS. LENDERS SHOULD CONSULT.

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How to fill out the HomeStyle Change Order Request (Form 1200). Single-Family - Selling & Servicing Forms online

Filling out the HomeStyle Change Order Request (Form 1200) is an important step when requesting changes to your renovation project. This guide will provide comprehensive instructions to help you complete the form accurately and efficiently.

Follow the steps to successfully complete your change order request.

  1. Click the ‘Get Form’ button to access the HomeStyle Change Order Request and open it in your preferred editor.
  2. Begin filling in the case number and date at the top of the form. This information helps identify your request.
  3. Enter the name of the lender and the change order request number. This associates your request with the financial entity managing your loan.
  4. Input the names of the borrower(s) involved in the project. Provide primary phone numbers for both parties for any necessary communication.
  5. Include the subject property address where the renovations will take place to ensure the changes are noted for the correct location.
  6. Fill in the contractor's name, address, point of contact, and phone and fax numbers to keep all parties informed and accountable.
  7. Specify the original contract cost, the alternate number (if applicable), and the original completion date to provide context for the changes.
  8. Detail the contract changes in the designated areas, including the cost associated with each change. Be thorough in descriptions to avoid misunderstandings.
  9. List any supporting documents that accompany the request. This may include additional estimates or revised plans that justify the changes.
  10. Calculate and enter the total cost of the changes and the new total cost of the renovation in the appropriate fields, ensuring accuracy.
  11. Establish a revised completion date based on the changes noted in the request. This acknowledges any delays in the project timeline.
  12. Both the borrower and contractor should sign and date the form to confirm agreement to the terms stated in the request.
  13. Finally, obtain approval from the lender by filling in their name, title, and date of approval at the bottom of the form.
  14. Once completed, save the changes, download a copy for your records, print it if necessary, or share the form as needed.

Start completing your HomeStyle Change Order Request online today to streamline your renovation adjustments.

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For example, a HomeReady HomeStyle Renovation mortgage must be a principal residence transaction, whereas standard HomeStyle Renovation permits second homes and investment properties.

The average mortgage term is 30 years, but that doesn't mean you have to get a 30-year loan – or take 30 years to pay it off. While it offers one of the lowest monthly payments among the various term options, this term will likely see you pay the most in total interest if you keep it for 30 years.

The appraisal report for a HomeStyle Renovation mortgage must provide an “as completed” appraised value that estimates the value of the property after completion of the renovation work.

For most loans, Fannie Mae requires that the lender obtain a signed and complete appraisal report that accurately reflects the market value, condition, and marketability of the property.

Sell Your House. One of the best and fastest ways to get out of a mortgage is to sell the property and use the proceeds to pay off the loan. ... Turn Over Ownership to Your Lender. ... Let the Lender Seek Foreclosure. ... Seek a Short Sale. ... Rent Out Your Home. ... Ask for a Loan Modification. ... Just Walk Away.

Renovation work must be completed no later than 12 months from the date the mortgage loan is delivered. The lender is responsible for monitoring the completion of the renovation work and managing disbursement of the funds.

Credit score requirements for a HomeStyle loan are exactly the same as for other Fannie Mae loans, including a conventional mortgage loan: you'll need a minimum score of 620 and a debt-to-income ratio of less than 50% in order to qualify.

The Fannie Mae HomeStyle Loan functions a bit differently than a regular conventional loan. The money is dispersed to pay for the home purchase at closing, but in order to use the funds for renovation, an approved contractor must submit plans to the bank for a “draw” to get paid.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232