BUYING A HOUSE THAT NEEDS WORK? NEED A FIXER-UPPER LOAN?
The FHA 203(k) Program is for you!!!
The Streamline 203(k) loan program is a simplified FHA 203(k) loan that was developed to meet the needs of housing that requires smaller-scale repairs. With this program, you obtain one loan for the purchase (or for the refinance of an existing debt), and the amount necessary to complete the required repairs.
STREAMLINE (K) ADVANTAGES!
1. Repairs are completed after closing with the loan proceeds
2. Streamline 203(k)’s are a great tool for REO properties
3. Low down payment requirement – Minimum investment of only 3%!
4. One loan amount for the purchase or refinance & the repairs
5. Loan fees may be financed
6. Streamline 203(k) Mortgage is FHA-insured
7. No inspection is required
8. No general contractor required for Streamline 203(k) loan programs
9. Mortgage amount may also be increased when combining Energy Efficient Mortgage (Green Mortgage) with the FHA Streamline 203(k)
Hometown Lenders is the industry leader for 203K loans. Although we are based in Huntsville, we offer this exciting loan program in all states we serve.
To have a list of the most frequently asked questions automatically emailed to you, just give us a call and we will send your free copy!
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