Renovation LoanProject Letter Example

Below is a sample letter detailing a renovation project. In your letter, we ask you be as detailed as

possible, including an estimated time frame for the project. Please reach out to your Originator or a

member of our team at mortgageoriginating@cinfed.com if you have any questions or concerns.

cinfed.com Federally insured by NCUA

The purpose of this document is to describe the renovation that will be completed atthe address listed above. I have submitted architectural drawings in a separate PDFdocument. The property is located in X. It is a 3 story single family home with a small backyard,with no garage or driveway. The property is currently in an uninhabitable state withvery little in the way of flooring other than baseboards, there is no kitchen orbathrooms, the working condition of the HVACs is unknown, although they will bereplaced. The roof is new as of the last couple of years, and there is a relatively new 2ndfloor rear deck. The house is structurally sound; no foundation work or the like isneeded. There is limited working electricity and most of the plumbing is no longerintact (except the main vent stack). We will be renovating the property into a 4 bedroom, 3.5 bath, with large livingroom/dining room area, large kitchen with a sitting room, adding a 3rd floor front facingdeck. 3 ½” Oak hardwood floors will be installed in all non-bath locations of the house.The planned stain color is Walnut (darker shade). The kitchen will be “L shaped” withstandard floor and wall cabinets installed - these will be gray in color. A lighter shade ofgranite will be used for countertops. A kitchen island with bar seating will also beadded. Appliances will be stainless steel and generally in the upper mid-range category.The stove will be gas. The bathrooms (other than the master) will use midrange fixtures with the master bathgetting higher midrange fixtures such as multiple showerheads in the shower. Lightingin most rooms will be recessed, but we are also considering ceiling fans in the masterand one of the 3rd floor bedrooms. The 3rd floor deck will use a low maintenancematerial for the decking, and include power for a TV to be mounted to the wall and for asmall refrigerator and cabinet/counter for storage. The deck will include a shortoverhang that will have lighting.

Re: Henry Homeowner101 Cinfed Circle

Cincinnati, OH 45209

Renovation LoanProject Letter Example

Below is a sample letter detailing a renovation project. In your letter, we ask you be as detailed as

possible, including an estimated time frame for the project. Please reach out to your Originator or a

member of our team at mortgageoriginating@cinfed.com if you have any questions or concerns.

cinfed.com Federally insured by NCUA

Tuck pointing will be applied to the brickwork, as needed, with currently exposed interiorbrick left as exposed. The chimneys will be framed and dry-walled in, as they are nonfunctional. The current 1st floor front window will be replaced to match the style of theother existing 1st floor windows. The front of the house will be painted to match theexisting color, and the detail near the gutter will repaired and repainted white. Virtuallyall the windows are in working condition, so the current plan is to keep them; howeverthe historic commission may require the street facing ones to be updated. All exteriordoors will be replaced with high quality replacements. The backyard will be cleaned of debris and the fences repaired as needed. The rearvinyl siding will be replaced with a cement board type of product. The cellar entranceswill both be replaced with standard metal coverings that are typical for the OTR area.The existing interior stairways will kept intact, repairs made and painted (stairway to the3rd floor and the spindles/railing to the 2nd floor). Most of the trim is in poor condition,so most will end up replaced with a similar style. If possible some of the existing trimwill be saved and consolidated into the living room or master bathroom. The HVACunits will be high efficiency, the property will have 2 units with one servicing the 3rdfloor and the other handling the 1st and 2nd floor. Note: The exact servicing areas foreach HVAC may change based on final solution recommended. No material work willdone to the basement, it will be cleaned out and made as waterproof as possible.We may attempt to gain LEED certification for the rehabbed property, but the exactrequirements are still being investigated. We will definitely apply for the basic 10 yeartax abatement that is available from Cincinnati.

Re: Henry Homeowner101 Cinfed Circle

Cincinnati, OH 45209