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Is the process for Streamlined 203(k) faster than the standard FHA 203(k)?

April 26, 2017faster FHA k process standard Streamlined

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Is the process for Streamlined 203(k) faster than the standard FHA 203(k)?

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From a credit and underwriting perspective, the two programs are not different. What makes the transaction “streamlined” is the type of eligible improvements, the rehabilitation amount is limited to a maximum of $35,000, and there are only two disbursements. In other words, it’s the rehabilitation process that is streamlined.