FHA Streamlined 203(k)
FHA 203(k) Streamlined
FHA Streamlined (k)
Streamlined-K
FHA Fix Up Loan
These all refer to the same thing – an FHA loan for repairing, rehabbing, remodeling, or fixing up a home that you purchase with an FHA-insured mortgage.
There are some good deals out there. But they're not perfect homes - at least not yet. One of them could be Your Dream Home once you Fix It Up the way you like it. Don't be afraid to tackle a small Fix Up Project. The Money is there and Help and Advice is available.
To take advantage of any good-deal opportunity you're going to need financing. The FHA Streamlined 203(k) mortgage is the perfect way to go. In addition to the mortgage for buying a home, you can borrow up to $35,000 more for fixing it up. And it's all just one mortgage at a low FHA interest rate.
What if the home you want to buy is a foreclosed home? Not a problem. What if it's winterized and all the utilities are turned off? No problema, amigo. What if it needs insulation, a new roof, new appliances, windows, flooring, and even more? Rest easy - you're covered with the Streamlined (k).
Here are some things you can do with the FHA Streamlined (k) Fix Up Loan:
New Appliances - even if you don't need to rehab the home and you just want new appliances
Cosmetic Enhancements - new light fixtures, drywall repairs, new paint, new counter tops, new sinks and faucets
New Flooring - new ceramic tiles, new Pergo, new hardwood flooring, refinish existing hardwood floors, new carpeting
Weatherization & Energy Efficiency - new windows, new doors, caulking, weather-stripping
Plumbing - new pipes, new water heater, new water softener, water filter
HVAC - new furnace, new air conditioner, new duct-work, new radiators, new boiler, replace old gravity furnace
Electrical - new wiring, new electric panel, replace fuse box, bring wiring up to code with grounded outlets and more circuits
Exterior - new roof, new siding, new gutters, new storm windows, install a fence, make the home handicap-accessible, new garage door
Major Items - build a garage, finish the basement, finish a second bathroom, remove a non-structural wall to combine two rooms for a bigger space
This should be called The Dream Home Loan because n ow, with the Streamlined (k), you can buy a foreclosed home or any home, regardless of its condition, and turn it into Your Dream Home!
Here's How It Works
You'll be in good hands throughout your project. My Lending Partner is very knowledgable and experienced with Streamlined (k) mortgages. And I'll personally make sure your Fix-Up Project is a Success. PLUS, you may be able to get an additional $8,000 as part of an Energy Efficient Mortgage (EEM).
Let's talk about the Streamlined (k) and see if it's right for you
Call me or Email me
Michael Harrell, Broker, Owner
Affordability Expert
email MultiCultural Realty
612-759-7629
MultiCulturalRealty.com
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