< Back to News & Insights

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.