Purchase a home and get money for improvements!!
FHA Streamline 203 (K) Program
Owner occupied only, 1-4 family
Up to $35,000 in non-structural repairs
FHA loan limits apply
Borrower can be their own general contractor. Can perform their own repairs based on trade and qualifications.
Ratios 31/43 (may differ if allowed by automated underwriting).
No plan review or consultant required.
No reserves required at closing.
No contingency reserve (some restrictions apply).
2 disbursments per contractor (if used).
97.25% maximum LTV.
Purchases and refinances.
Borrower must move into property within 30 days.
There are many ways to obtain a loan for your dreams. Contact me today and I will be happy to assist you in locating the right lender to handle any unique situation. I look forward to hearing from you soon.
Real estate and homes for sale.