Finance home repairs or remodels at closing with an FHA 203(k) Streamline Loan
You’re looking at a house with “good bones” but it needs a lot of work. This streamline loan program provides up to $35,000* for renovations and repairs of your primary residence by financing the after-improved value rather than the present value of the home. Qualified borrowers receive a single loan with one closing!
- As little as 3.5% down payment
- Up to $35,000* for repairs or renovation
- Finance 100% of weatherization/energy efficient improvements**
- Finance construction costs with a single closing
- You pick the contractors
- Wide variety of repairs covered, including roofs, kitchen/bath remodels, flooring, paint, new appliances, plumbing/electrical repairs, and lead-based paint abatements
*Must include fees, contingency reserve and repairs.
** Dollar limits apply. Energy Efficient Mortgage Program improvements must reduce energy expense of a home to qualify. Examples of qualifying improvements include central heating/cooling, replacing wall heating units, test and seal ductwork, dual pane or low E windows and sliding doors, exterior doors and sunscreens, attic and wall insulation and water heater replacement.
Note: Programs are subject to change without notice. Each program has its own set of underwriting guidelines; please contact one of our Loan Professionals to find out the latest and specific program requirements.
To learn if you qualify for this program contact us by phone 305.749.5375