Contact Team Clermont Today! • FL: (941) 201-5847WI: (920) 347-1245FAX: (920) 347-1244|yvetteclermont@inlanta.com

Streamline 203k

Streamline 203k 2017-01-11T18:39:28+00:00

What is the Streamline 203k program?

HUD has developed a new FHA insured mortgage program called the Streamline 203k Limited Repair Program that permits homebuyers to finance up to an additional $35,000 for repairs into their mortgage to purchase and improve or upgrade the home before move‐in or to refinance an existing mortgage and add up to $35,000 for repairs or improvements. With this new product, homebuyers can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or FHA appraiser. Unlike the standard 203(k) program, any FHA approved lender may originate a Streamlined 203k mortgage.

The following repairs can be financed with this program:

  • Repair/Replacement of roofs, gutters and downspouts
  • Repair/Replacement/upgrade of existing HVAC systems
  • Repair/Replacement/upgrade of plumbing and electrical systems
  • Repair/Replacement of existing flooring
  • Minor remodeling, such as kitchens, which does not involve structural repairs
  • Exterior and interior painting
  • Weatherization: including storm windows and doors, insulation, weather stripping, etc.
  • Purchase and installation of appliances, including free‐standing ranges, refrigerators,
  • Washers/dryers, dishwashers and microwaves.
  • Improvements for accessibility for persons with disabilities.
  • Lead based paint stabilization or abatement of lead based paint hazards.
  • Repair, replacement or the addition of exterior decks, patios and porches.
  • Basement remodeling which does not involve structural repairs.
  • Basement waterproofing.
  • Window and door replacement and exterior siding replacement.
  • Well or septic system repair or replacement.

This program can also be used with the purchase of a HUD home. Find out more about the Streamline 203k program by visiting the following HUD website: http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/203k/203kmenu.

Toggle Sliding Bar Area