The streamline 203K allows a purchaser, or an existing homeowner, to remodel or rehab an existing property with one simple low cost FHA insured loan.
• One Low Cost (Low Down Payment) Loan
• No complicated guidelines, procedures or draw schedules
• Competitive Rates
• Save Time and Money
Some examples of eligible repairs are listed below:
• Repair/Replace roofs, gutters, down spouts
• Repair/Replace/Upgrade heating and cooling systems
• Repair/Replace/Upgrade plumbing and electrical systems
• Repair/Replace carpet and flooring
• Minimal remodeling of kitchens and bathrooms (no structural changes or repairs)
• Painting (Interior/exterior)
• Window/door replacements
• Lead paint stabilization / abatement
| The streamline 203K does NOT accommodate major remodeling.
The following are not eligible under the streamline 203K:
• Relocation of load bearing walls
• Well/septic repairs
• Repair of structural damage
• New construction such as room additions
Eligible property types: 1-4 Unit detached/attached owner-occupied.
No condos, mixed-use or manufactured homes.
Links:
Eligible Repairs
Contractor Acceptance Package
Step-by-Step
FAQ
This Page in PDF format
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