What Is a 203k Mortgage? #fafsa #student #loans

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What Is a 203k Mortgage?

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Streamlined 203(k) Loans Cover Minor Repairs

Homes in need of minor, cosmetic repairs may qualify for up to a $35,000 loan amount through the 203(k) streamlined program. FHA lenders require less oversight of the repair work in a streamlined renovation. You can use it to make a purchased property move-in ready or prepare your home for sale. Common repairs include interior painting, re-flooring and kitchen and bathroom remodels.

Regular 203(k) Is Used for Remodeling

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The FHA 203(k) Streamlined Mortgage is a viable option for thousands of homebuyers.

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In some housing markets, affordable homes come at a high price. In exchange for a low-priced home, a buyer must invest extra.





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