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FHA Funds
for Handyman-Specials &
Fixer Upper
The
Section
203(k) program is
the Department's primary program
for the rehabilitation and repair
of single family properties
The FHA 203K program
allows borrowers to add funds
to a new
FHA
Purchase Mortgage
or to secure funds for
rehabilitation, home improvements
or repair work
to
someone who already has a home
mortgage using
a Streamlined
203K Loan

Purchase Program:
Get up to $35,000.00
dollars for Home Improvements
toward your new purchase.
Mini (Streamline) 203K
Refinance:
Borrow up to $35,000.00
dollars for Home Improvements
toward your existing
home, even if you
don't have the equity!
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If you have passed up buying
homes that require cosmetic
repairs for lack of funds to
fix them up, the FHA has
a program for you. Not to be
confused with FHA's much more
complicated 203K program,
a Streamlined
203K loan
eliminates much of the paperwork
and simplifies the process to
obtain rehab
The Streamlined
203K loan allows for simple
repairs that can be easily estimated
and completed. Many are considered
light cosmetic repairs, but
some will require hiring a licensed
contractor if it falls out of
the borrower's area of expertise.
Here is an approved
list of just some
repairs / improvements
from HUD:
-
Roofs, gutters
and downspouts
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HVAC systems
(heating, venting and air
conditioning)
-
Plumbing
and electrical
-
Minor kitchen
and bath remodels
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Flooring:
carpet, tile, wood, etc.
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Interior
and exterior painting
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New windows
and doors
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Weather stripping &
insulation
-
Improvements
for persons with disabilities
-
Energy efficient
improvements
-
Stabilizing
or removing lead-based paint
-
Decks, patios,
porches
-
Basement
completion and waterproofing
-
Septic or
well systems
-
Purchase
of new kitchen appliances
or washer / dryer

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FHA Loan Information
The FHA does
not lend money. The FHA
(Federal Housing Administration)
is part of HUD &
backs individual Approved
Lenders.
Note:
We are not affiliated with the
Federal Housing Administration,
the Department of Housing and
Urban Development, or any other
government agency. We are an
FHA Educational Resource.
Our goal is to help you
find the best FHA Approved
Lender who can help you
secure home financing.
When you
fill in our short application
we will provide your information
to one, (and only one!)
FHA Approved Lender
who can help you based upon
many factors, including your
Credit Score, your
State Location, and the
Type of Loan you apply
for
Read
more
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