Are you looking to purchase a home
that needs some repairs?
Consider a 203K loan program.
Below are some of the highlights:





The Streamline K program is designed for limited repairs that can total up to a maximum of $35,000.
There is no minimum dollar amount just the $35,000 maximum.

Eligible Repairs
The Streamline 203 (K) program is intended to facilitate uncomplicated improvements to a home that doesn’t require plans, consultants, engineers and architects. The Streamline K is not intended for major remodeling, room additions, repairs of structural damage, landscaping on site amenity improvement, etc. All work must begin within 30 days of closing and be completed within 6 months of closing.

Examples of eligible repairs are listed below but please remember this list is not all inclusive. For a more comprehensive overview please go to HUD’s website:
www.hud.gov/offices/SFH/203KSLRP.CFM
and refer to mortgage letter 2005‐50
‐ Repair / replacement of roofs, gutters and door spouts
‐ Repair / replace / upgrade existing HVAC system
‐ Repair / replace / upgrade plumbing and electrical system
‐ Repair / replacement of flooring
‐ Minor remodeling, such as kitchens, does not involve structural repairs
‐ Painting interior and / or exterior
‐ Weatherization (storm windows, doors, insulation, etc)
‐ Purchase and installation of appliances
‐ Accessibility improvements for persons with disabilities
‐ Lead paint stabilization / abatement
‐ Repair / replace / add exterior decks, patios, porches
‐ Basement finishing and remodeling (no structural repairs allowed)
‐ Basement waterproofing
‐ Window and door replacement
‐ Exterior wall re‐siding
Examples of items not eligible for the Streamline K:
‐ Major remodeling such as relocation of load bearing walls
‐ New construction including room additions
‐ Repairs of any structural damage
‐ Repairs requiring detailed plans, drawing, etc
‐ Landscaping on‐site amenity improvements
‐ Work requiring six (6) months or longer to complete
‐ Activities requiring more than two (2) draw payments

I would be happy to answer your questions.

For more information on this program, please call me or Amanda.
Thomas J Smith & Amanda Nichols RE/MAX At Barnegat Bay – Manahawkin Call/text 609 709-1429 or Amanda Call/text 848-992-1783 Email: tom@sellertom.com, amanda@sellertom.com