Rehab Loans – FHA 203k Streamlined
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.
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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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. |
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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. (Complete AFR Guidelines and Forms)
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