Rehab Loans

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.

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)

 

  • 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!