Home Restrictions

The Streamline 203K mortage is perfect for fixing items on a property that don’t meet the FHA guidelines to use standard FHA financing. Typically you can finance into the purchase loans the costs of upgrades and replacements as long as they are not structural repairs.

With a FHA Streamline 203k Mortgage you can add an additional $35,000 worth of repairs, appliances, etc. into the loan. The repairs have to be completed by a licensed/bonded contractor. Typically half the cost of the project is paid to the contractors at closing and the remaining amount is paid upon completion, after closing.

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