The FHA 203k Streamline loan: What is it?
Combine repairs and home financing into one loan. The FHA 203k Streamline allows borrowers to finance the purchase or refinance of an existing home and make improvements or upgrades up to $35,000. $5,000 minimum repair costs required.
Examples of repairs:
• Repair, replace, and upgrade roofs, gutters and downspouts
• HVAC systems (heating, vacuum, and AC)
• Plumbing and electrical systems
• Flooring, exterior decks, patios, and porches
• Minor remodeling that does not involve structural repairs
• Interior and exterior painting
• Weatherization, including doors, windows, insulation, stripping, etc.
• Appliance purchase and installation (kitchen appliances, washer, dryer)
• Lead-based paint removal and stabilization
• Exterior wall-re-siding
• Certain other improvements that are a PERMANENT part of the real estate*