Lehigh Valley Foreclosures & Real Estate - What type of FHA Loans are Available for Renovation Financing? FHA 203K Streamline and Standard Loans - Learn about the Basic program opportunities
Renovation Financing opportunities for FHA 203K Streamline Program - The quick and Easy (close within 60 days)
- Owner Occupied ONLY! Sorry, No investor loans
- For Purchase and Refinancing 1 to 4 Unit homes (including mixed use)
- No minimum Repair amount - get as little as $1000.00 or as much as $30,000.00
- 15 or 30 year fixed rates
- Adjustable Rate Products available - Great benefits for Homeowners who are looking to move within 5 years
- Foreclosure Sales
- HUD Properties
- Bank Owned Properties & REOs (Real Estate Owned)
- Estate Sales
- TLC - Handyman Specials
- The Streamline K is a simplified verson of the full FHA 203K Standard
- NO Structural, site or landscaping repairs or improvements permitted.
- NO HUD consultant required - Just a Certified & Approved Contractor Estimate
- Work must be completed within 4 months for less
- Left over repair escrow must be used toward the principle of loan
- Credit Score 600 to 620 minimum
Renovation Financing opportunities for FHA 203K Standard Program - The Complete Package - Skies the Limit
- Everything as the Streamline Program BUT More Paperwork, but MANY MORE OPTIONS
- $5,000.00 minimum repair amount NO CAP - Property just needs to appraise at current market value
- Greater fliexibility on repair amount or type of improvements which can be made.
- Leftover repair escrow can be used for additional improvements
- HUD Consultant required - fee sliding scale based upon amount of work being done
- Work must be completed within 6 months or less.
- If the home is not able to be lived in after settlement the home buyer can finance 3 or 4 months of mortgage payments in the loan until move in.
WANT MORE? Check out more Topics or Go to my Lehigh Valley Foreclosure Blog
What is FHA Renovation Financing "Rehab Loans" How does it work & The Benefits
What is the process for Getting an FHA Renovation Financing Loan?
Getting a Loan for Foreclosures, Handyman Specials & Short Sales - THERE IS A WAY
* Lehigh Valley Foreclosures & Real Estate - What Type of FHA Loans are Available for Renovation Financing? FHA 203K Streamline & Standard Loans * Moriah Martin is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License
