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What types of repairs and/or modifications are acceptable for an FHA 203K Loan?

April 26, 2017acceptable FHA loan modifications repairs types

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What types of repairs and/or modifications are acceptable for an FHA 203K Loan?

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Any repairs/improvements/modifications/modernizations that add value to and/or improve the property are acceptable for an FHA 203K Loan. The improvements must comply with HUD’s Minimum Property Standards (24 CFR 200.926d and/or HUD Handbook 4905.1) and all local codes and ordinances. Landscaping, structural modifications and work in excess of $35,000 are NOT allowed for the FHA 203K Streamlined Loan. Examples of allowable repairs/modifications/renovations for the FHA 203K Streamline Loan: • Energy Efficient upgrades • Repair/Replacement of roofs, gutters and downspouts • Repair/Replacement/upgrade of existing HVAC systems • Repair/Replacement/upgrade of plumbing and electrical systems • Repair/Replacement of flooring • Minor remodeling, such as kitchens, which does not involve structural repairs • Painting, both exterior and interior • Weatherization, including storm windows and doors, insulation, weather stripping, etc.