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Does anyone actually get how this works with the receipts you need to submit to justify the loan? (I'm planning on using the cash for some new furniture) And how "fresh" do those receipts need to be... how old can they be before they're useless? Also, would they accept something like a Zepter invoice if I have an outstanding balance, since I didn't pay cash upfront?
Benjamin Rodriguez2 said:Where exactly do you think you’re going to pull an invoice from for the rest of it? From whoever’s handling your renovation? I mean, you’d probably prefer to just settle things under the table, but what, you think you can just hand some fake receipts to the bank? That’s straight-up illegal 🙂 I honestly don't know which company would even touch that, since they’d have to eat the sales tax and corporate tax on top of everything else, right?
Look, just hire a legitimate contractor for the renovation and boom—you’ve got your invoices, plus you actually get a warranty on the work 🙂
Or, if you're feeling adventurous, pay the handymen in cash and then just use the money that needs covering to buy all your materials
As for the total amount agreed upon, it doesn't matter if you weren't hitting your payment dates perfectly; what matters is that you paid EVERYTHING you owed, and once you do, the full amount belongs to you. Being punctual only affects your credit score when they decide how much to grant you, so yeah, being late might drag out the approval process for a month or two—you should probably ask your folks at Wells Fargo about that. They likely suggested a lower amount upfront just because of those delays (and the incomplete payments, though you can always settle those up later) so you wouldn't be stuck waiting indefinitely
Look, this isn't even about home renovations. It's just furniture to get the place set up. My own personal banker told me to just grab whatever receipts I could for that amount and bring them directly to the branch right before the loan clears. So why is everyone acting like a saint here when nobody actually does "illegal" receipts? This is the only way to satisfy the loan requirements for what I'm applying for!
So, back to the receipts... did anyone actually grasp my main point? Is it really true that nobody has ever done this before??? hellooo
Basically, does anyone have any kind of receipts where the buyer's name isn't listed—for a fee, obviously?
I mean, I have to justify the specific amount to get the cash; that's just how it works. Just standard receipts totaling $4,000...
Quick question!
I’ve got this home improvement savings plan open at Citibank with a two-year term. That period just wrapped up, and I still have about $1667 left to put in. This is based on what the lady over at Citibank told me. My contracted amount was $8,900, but apparently, I’ll only actually see $6,230. I’m planning to use the money to renovate my apartment, and according to them, I need to show receipts totaling $46,158.26 to justify the loan and actually get the funds. I can handle $20,000 on my own (you know, keeping things strictly "official" within reason... that's the only amount that guy can really vouch for), but I have no clue where to find invoices for the rest of that total. Every person I ask is clueless, and besides, the bills have to be in my name specifically. Also, I'm wondering what happens to the leftover part of that $8,900 contract, especially since I wasn't exactly consistent with my monthly payments like the agreement required. The repayment term is five years, and my interest rate is 4.88%.
Anyway, thanks in advance. Any help would be huge... 😉)