What Type of FHA Loans are Available for Renovation Financing? FHA 203K Streamline & Standard Loans

What type of FHA Loans are Available for Renovation Financing? FHA 203K Streamline and Standard Loans – Learn about the Basic program opportunities

Renovation Financing opportunities for FHA 203K Streamline Program – The quick and Easy (close within 60 days)

  • Owner Occupied ONLY! Sorry, No investor loans
  • For Purchase and Refinancing 1 to 4 Unit homes (including mixed use)
  • No minimum Repair amount – get as little as $1000.00 or as much as $30,000.00
  • 15 or 30 year fixed rates
  • Adjustable Rate Products available – Great benefits for Homeowners who are looking to move within 5 years
  • Foreclosure Sales
  • HUD Properties
  • Bank Owned Properties & REOs (Real Estate Owned)
  • Estate Sales
  • TLC – Handyman Specials
  • The Streamline K is a simplified verson of the full FHA 203K Standard
  • NO Structural, site or landscaping repairs or improvements permitted.
  • NO HUD consultant required – Just a Certified & Approved Contractor Estimate
  • Work must be completed within 4 months for less
  • Left over repair escrow must be used toward the principle of loan
  • Credit Score 600 to 620 minimum


Renovation Financing opportunities for FHA 203K Standard Program
– The Complete Package – Skies the Limit

  • Everything as the Streamline Program BUT More Paperwork, but MANY MORE OPTIONS
  • $5,000.00 minimum repair amount NO CAP – Property just needs to appraise at current market value
  • Greater fliexibility on repair amount or type of improvements which can be made.
  • Leftover repair escrow can be used for additional improvements
  • HUD Consultant required – fee sliding scale based upon amount of work being done
  • Work must be completed within 6 months or less.
  • If the home is not able to be lived in after settlement the home buyer can finance 3 or 4 months of mortgage payments in the loan until move in.
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