203K - Purchase or Refinance a Home in Need of Repairs

November 24, 2015 — 2 min read

FHA Streamlined 203K Loan

Not every home is move-in ready. Take advantage of PRM's FHA Streamlined 203K loan to purchase or refinance a home and the cost of repairs, all with one mortgage! FHA's Streamlined 203K program permits homebuyers to finance up to an additional $35,000 in remodel and upgrade items, plus another $8,000 in energy efficient items into their mortgage. Access these additional funds to pay for property repairs or improvements such as:

HVAC systems (heating, venting and air conditioning)
Roofs, gutters and downspouts
Minor kitchen and bath remodels
Flooring: carpet, tile, wood, etc.
Interior and exterior painting
New windows and doors
Weather stripping & insulation
Energy efficient improvements
Decks, patios, porches
Basement completion and waterproofing
Septic or well systems
Plumbing and electrical
Improvements for persons with disabilities

Don't let a home needing a little TLC impede a sale. A 203K loan can be the perfect way to purchase a home that is a little rough around the edges, allowing buyers an opportunity to build equity. Interested in learning more? View our buyer and realtor 203K checklist.

Contact us for details and loan requirements.

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