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What is a Streamlined 203(k) Limited Repair Program?

April 26, 2017k limited program Repair Streamlined

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What is a Streamlined 203(k) Limited Repair Program?

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• FHA’s Streamlined 203(k) program permits homebuyers to finance up to an additional $35,000 into their mortgage to improve or upgrade their home before move-in. With this new product, homebuyers can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or FHA appraiser. The requirements are less stringent than the regular 203k loan, and these loans close seamlessly with the regular purchase of the property.