Class Ii Builders

To be qualified as a Class II Builder by the Agency, a builder must: (1) Have a HUD rating of 100, current within two (2) years, or have met the performance goals under the most recent Reservation of Funds Programs for builders. NEW HOMES REGULATIONS CHAPTER 0770-1-3 (2) Have previous FHA/VA building (3) Have a net worth of at least $100,000 supported by a current financial statement. This statement is subject to verification by the Agency which may require an audit. (4) Submit a current letter from a financial institution or institutions indicating construction funds will be made available to the Builder.