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Improve Your Home With This FHA Loan!

July 11, 2012

FHA Streamlined 203K Rehabilitation Loan Program –
620 FICO +

Finance repairs, improvements, and upgrades within your purchase or refinance.

Perfect for purchasing foreclosures in need of small repairs!

The Federal Housing Administration’s (FHA) Streamlined 203K Rehabilitation Loan is an easy to use mortgage program specifically designed for those who wish to make improvements on a home they own, or would like to buy.

Rather than having to obtain a separate loan to finance the cost of repairs (or walking away from a home they love because they don’t have the cash for home improvements), the Streamlined 203K rehabilitation loan allows you to finance these costs — up to $35,000 — within your FHA purchase or refinance itself.

Some Improvements you can perform with the Streamline 203K

A Streamline 203K loan allows for a wide variety of home improvements to be performed on a home. The program is primarily intended for simple repairs, light remodeling, and upgrades (including money saving energy efficient upgrades), not for major remodeling projects.

• Repair, replace, and upgrade roofs, gutters and downspouts
• HVAC systems (heating, vacuum, and AC)
• Plumbing and electrical systems
• Flooring, exterior decks, patios, and porches
• Minor remodeling that does not involve structural repairs
• Interior and exterior painting
• Weatherization, including doors, windows, insulation, stripping, etc
• Appliance purchase & installation (ie. kitchen appliances, washer, dryer)
• Energy efficient upgrades
• Lead-based paint removal & stabilization
• Exterior wall re-siding and more!

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