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What is a Streamline loan?

April 26, 2017loan streamline

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What is a Streamline loan?

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The FHA Streamline(k) Limited Repair Program allows borrowers to finance upgrades and improvements up to $35,000 in mortgage funds. There is no minimum threshold. Rehab funds are held in escrow by the lender and disbursed as work is completed. General contractors and consultants are not required. The lender is responsible for the feasibility study. All standard FHA guidelines apply. The property must be 100% complete and at least one year old.