Your Home Improvement Journey

Step 1

Determining if you are Eligible

Are you eligible for the program?  Clarifi is here to help you figure it out.  

Call us at 215-866-5200 and we will work you through the pre-eligibility steps including what you need to submit to us for verification, including:  

  • Last 2 pay stubs
  • Proof of all income sources (If you do not have this, we can help you obtain).  
  • Household Size Affidavit (Attached)
  • Privacy Disclosure (Attached) 
  • Additional income documents if it applies (For example, a Social Security award letter) 

We may have to ask you for additional information and documents depending on your personal situation.

Step 2

Submitting your Loan Application

The lenders will provide you with a list of the documents they need to collect in order to process your pre-qualification amount.

The lenders are bound to follow certain regulatory and program requirements for your loan application review to determine the amount you can qualify for, including:

  • Loan-to-Value ratio
  • Debt-to-Income ratio
  • Credit review
  • Title search

There may be other reviews utilized depending on your personal situation, the lenders are committed to work with families who are determined to be eligible for the Restore Repair Program.

Step 3

Getting Home Repair Estimates

In order to preserve your most important asset, Clarifi will work with you after pre-qualification from the lender to figure out the home repairs you need and the repairs you want. 

  • Clarifi will send out a professional  to perform a home assessment.  You will get a copy of this to use as a guide for your repairs. 
  • Contractors providing estimates must be licensed.  If you do not have contractors, Clarifi can provide a list who have asked to be a part of this program, who have the proper licenses required for the program by the City.  
  • Clarifi can provide you with direction on how to select a contractor and review an estimate.
  • When you decide on a contractor's estimate, Clarifi will submit estimates to your lender. 

 

Helpful Information 

Helpful Tips for Hiring a Contractor 

Best practices when looking for a contractor (this is not an all-inclusive list)

  • Contact several contractors and ask for estimates on the scope of the work, make sure to provide the same scope of work to each contractor
  • Ask the contractor if they provide warranties on their work or on the materials used and if they put that in writing and can it be part of or attached to the estimate
  • Ask the contractor if they will be selecting the materials, for instance tile color or cabinet type, or if you as the homeowner will be provided with a budget to make selections when applicable
  • Do not be afraid to take notes of all conversations you have with the contractor and ask them to repeat themselves or explain what the work is that they will be doing in a way that you understand

 

Step 4

Home Repairs Begin

After the bank reviews final estimates and provides you with loan documentation, your work can begin. 

You are the owner of the property and the projects. The contract with the contractors is with you; we know that may be daunting and we are able to help over the phone with questions you may have. Clarifi wants to provide you with the information necessary to manage the contractors and schedule so you can take on your next home improvement project on your own without our help.

Step 5

Repairs Completed

Congratulations on your home repair!   You have preserved your home, increased your home value and improved your health.

Don't forget:

  • Contact your lender to let them know the repair is complete. The lender needs to inspect the work before the contractors can be paid
  • Request any written warranties on workmanship or parts, appliance or materials that were a part of your project.
  • Read the warranties in case they require some sort of regular maintenance to an item, for instance changing filters on a furnace regularly or coating a roof, to remain in force
  • Examine loan payment documents to ensure they are correct, and you understand payment terms
  • ENJOY your repairs and renovations!
FAQs
How do I know how many contractors I need, and what type?

If you are unsure of which contractors to call, a Clarifi team member can help you identify which types of contractors to call for which home repairs. 

I have been told I have met pre-eligibility with Clarifi, but now the lender is saying I have too much debt.

One of Clarifi's financial counselors can help you plan and manage your debt to become eligible for the program. We have financial health and wellness programs and coaching that can get your debt-to-income ratio on track for the program.

I need repairs done, but was planning on buying things on my credit card for the house too; will that affect my ability to get this loan?

It may – it depends on a number of factors like credit score, debt to income ratios and credit utilization; Clarifi can help you sort out how to best manage your credit to ensure it does not jeopardize your loan.

I submitted documents to Clarifi and now the bank is asking for more, why?

The items needed to determine if you can be pre-approved for a loan are different, though a few overlap, than what Clarifi needs to determine pre-eligibility.

I was pre-approved, but my lender denied me because of my title. Why?

Your lender can issue a conditional loan pre-approval prior to a detailed title review. Often the issue that comes up after a conditional pre-approval on a title is one that Clarifi can help you resolve so your loan can move forward.

My home's deed/title is not in my name or lists the name of a deceased relative, or a person who is does not live in the house as a primary residence.

If we are not able to help you in-house with our knowledge of these issues, Clarifi can help direct you to resources.

My house needs more repairs than my pre-approved loan amount can cover.

Clarifi can work with you to identify other programs or grants that can leverage your loan dollars.  Clarifi can also work with you to determine which projects are a priority for the health of your home as well the occupants.

What are the program's Minimum Home Quality Standards?

Minimum Home Quality Standards means your home is safe, warm and dry (they are specific but general):

  • DRY: your roof and walls are free of holes that let in rain, moisture, or pests; your plumbing is free of leaks
  • WARM: your windows can open and close securely, your furnace and water heater work
  • SAFE: your exterior doors lock, your lights turn on, your stairs and floors are free of trip hazards, there are no structural issues that are dangerous, your home is free of a pest infestation, your air and water are not contaminated, and you have smoke detectors on each floor.
What do I need to tell contractors?

They will need to submit a written itemized estimate that include a 10% contingency; a maximum of 30% deposit.  Be prepared to submit a certificate of insurance, have City or State licensure and that all projects need to end at approximately the same time.

What is the difference between Pre-Eligibility, Eligibility and Pre-Qualified?

Clarifi is responsible for determining eligibility for Restore Repair Renew. There are a few items we cannot access but the lenders can for instance access a Title Report, thus we say you are Pre-Eligible. The Lender will determine final Eligibility for the program and “lendability” which results in Pre-Qualification for the loan.

What is the Home Assessment?

Clarifi will send out a home assessor to go though your home and look for and document minimum housing standards set for the program. The assessor will also list and note repairs or changes that you want. You will receive a copy of this report and Clarifi will walk through it with you to ensure you understand your home needs.

Where do contractors for the program come from?

You can use contractor(s) you are familiar with so long as they have the required licensure.  Clarifi also maintains a list of contractors who have asked us to share their information with people looking for repairs through the Restore Repair Renew Program, and we can share that list with you.

Resources

Housing Utilities Assistance
Housing Rental
Housing Repairs
Healthy Home Tips