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HELPING HOME BUYERS & SELLERS STAY INFORMED. BOB ELLIOT REALTOR®, CRS, GRI, ePRO

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FHA 203k Helping You Buy Fixer-Uppers!

FHA 203k Streamline loan program only requires 3.5% down and offers up to $35,000 for upgrades or repairs. Buyer's can replace, or repair flooring, roofing, heating, electrical, energy efficiency improvements, even upgrade to stainless steel appliances. Click Source: HUD FHA 203k Fixer Upper Program

Published Friday, November 26, 2010 10:26 AM by Bob Elliot

Filed under: FHA 203k 3.5% Down Fixer-Upper Program

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Paul Welden said:

Thank you for posting a bit about the FHA 203k Streamline. There's also the FHA 203k Standard/Rehab, which does not have a $35,000 rehab limit like the Streamline version. The rehab limit on the 203k standard/rehab version is limited by the FHA max loan limit for the area and/or 110% of the improved appraised value of the property, which means in some areas, the max limit for the FHA 203k Standard/Rehab can be as high as $729,750 for a Single Family Detached home. It's good that knowledgeable Realtors like Bob Elliot are posting info on this program that is making a huge comeback. Contractors who are knowledgeable and certified on the 203k program can be found at http://203kContractors.com.

November 28, 2010 10:33 AM

Garrett Feis said:

Look for big changes in the 203k program next spring.

November 29, 2010 1:29 PM

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