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loans@debrasineni.com
Purchase | Refinance | Home Equity
(847) 321-0814
Purchase | Refinance | Home Equity
(847) 321-0814
203K Streamline Rehab Loan
HUD has developed an FHA insured
mortgage, called the “Streamline (K)” Limited
Repair Program that permits home buyers to
finance up to an additional $35,000 into their
mortgage to improve or upgrade their
home. There is no minimum repair cost.
This loan is a one close transaction and
repair costs are escrowed for disbursement
to contractor or person performing the work.
If you are looking for a home that needs
some upgrading or repair, then the 203K
Streamline would be the perfect option for
you.
mortgage, called the “Streamline (K)” Limited
Repair Program that permits home buyers to
finance up to an additional $35,000 into their
mortgage to improve or upgrade their
home. There is no minimum repair cost.
This loan is a one close transaction and
repair costs are escrowed for disbursement
to contractor or person performing the work.
If you are looking for a home that needs
some upgrading or repair, then the 203K
Streamline would be the perfect option for
you.
Highlights of 203K:
May be used for purchase or refinance
of one-to-four (single family)
residences, including HUD REO
properties.
May be either Fixed or Adjustable rate
mortgages.
May be used for purchase or refinance
of one-to-four (single family)
residences, including HUD REO
properties.
May be either Fixed or Adjustable rate
mortgages.
| To Apply Contact Deb Sineni |
Combines the funds to purchase or
refinance (pay off existing liens) along
with the funds needed to
repair/rehabilitate the property.
refinance (pay off existing liens) along
with the funds needed to
repair/rehabilitate the property.
Repairs are completed after closing.
One closing, with rehabilitation funds escrowed and
disbursed as the work is satisfactorily completed.
Can be used to update homes, correct health and safety
issues, pay for higher cost items such as a roof, etc.
Property value must be sufficient to purchase/refinance
and completion.
One closing, with rehabilitation funds escrowed and
disbursed as the work is satisfactorily completed.
Can be used to update homes, correct health and safety
issues, pay for higher cost items such as a roof, etc.
Property value must be sufficient to purchase/refinance
and completion.
Chicago Illinois Home Mortgage Lender