{"id":19319,"date":"2012-07-11T21:40:48","date_gmt":"2012-07-11T21:40:48","guid":{"rendered":"http:\/\/203krehabnow.com\/?p=19319"},"modified":"2012-07-11T21:40:48","modified_gmt":"2012-07-11T21:40:48","slug":"the-fha-203k-streamline-renovation-loan-home-rehab-made-easy","status":"publish","type":"post","link":"https:\/\/dev203k.orbitwebx.com\/dev203k\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\/","title":{"rendered":"The FHA 203k Streamline Renovation Loan: Home Rehab Made Easy"},"content":{"rendered":"

\"\"<\/a><\/p>\n

The FHA 203k Streamline Renovation Loan: Home Rehab Made Easy<\/p>\n

Don’t miss an opportunity to\u00a0bid on a home that needs light cosmetic updating<\/a>.\u00a0 Why, you ask?<\/em>\u00a0\u00a0The answer is simple, purchase using the FHA 203k streamline renovation loan<\/strong>.\u00a0 Unlike FHA’s full 203K program<\/a>, an FHA Streamline 203K loan eliminates much of the paperwork needed to obtain rehab funds.\u00a0 Also the guidelines were recently updated to allow for\u00a0roof work<\/span> to be included; it’s no longer considered a major structural repair which is great news!<\/p>\n

How Does a Streamlined 203K Loan Work?<\/strong><\/p>\n

It used to be that you bought a home and then applied for a home equity loan to fix it up, resulting in two loans.\u00a0\u00a0But that’s no longer required now that the FHA Streamline 203K<\/a> is available.<\/span>\u00a0\u00a0\u00a0In a nutshell you and your realtor will write the contract<\/a> for the FHA 203k program.\u00a0 You will decide how much to offer the seller which is the amount you will list in the contract – remember<\/strong> you are purchasing a home that needs some minor repairs so don’t overbid because it might be hard to\u00a0negotiate\u00a0a lower price later in the process.<\/p>\n

Once the contract is accepted and you\u00a0have had your home inspection you will then get a general contractor<\/a> to bid on the work that’s to be done.\u00a0 From this point forward we order the appraisal based on the work you are doing and the loan moves forward as a regular purchase transaction.\u00a0 The work will begin after the loan closes and your general contractor will have up to\u00a0180 days to complete.<\/strong><\/p>\n

A couple of things to keep in mind:<\/span><\/strong><\/p>\n

1) The max amount that can be escrowed is $35,000<\/p>\n

2) No “structural repairs” such as foundation work are allowed under the streamlined 203k<\/p>\n

3) Minimum required repairs including any health and safety items such as lead based paint, missing smoke detectors, etc much be addressed first<\/p>\n

If you are a current home owner,<\/span> we have good news for you too.\u00a0 This loan is also available as a refinance<\/a><\/strong>.\u00a0 We will pay off your current lender and your new loan amount will be your existing loan plus the amount of the repairs.\u00a0 It’s just that simple.<\/p>\n

Being an FHA loan <\/a>the requirements are fairly simple. You still need a FICO of 640 but the debt ratio can go up to 50% and in some cases 55%. Also the overall credit requirements are a bit more relaxed which is why FHA (as a general loan program) is so popular. Now of course the mortgage insurance <\/a>is required regardless of down payment so if you are looking to avoid mortgage insurance then a conventional renovation loan <\/a>such as the Fannie Mae HomeStyle or Fannie Mae HomePath loan might be the way to go. Being conventional loans with 5% down you will see a decrease in mortgage insurance and with 20% down there is no mortgage insurance.<\/p>\n

There used to be some negative talk about the renovation loans but let me assure you that’s a thing of the past.\u00a0 My team and I work hard to ensure that your loan closes in a timely manner and that the work is completed to your liking.\u00a0 Call me today <\/a>to find out more about the FHA 203k streamline loan and home rehab made easy.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Don’t miss an opportunity to bid on a home that needs light cosmetic updating. Why, you ask? The answer is simple, purchase using the FHA 203k streamline renovation loan. Unlike FHA’s full 203K program, an FHA Streamline 203K loan eliminates much of the paperwork to obtain rehab funds. Also the guidelines were recently updated to allow for roof work to be included; it’s no longer considered a major structural repair which is great news!<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69,58,62],"tags":[78,138],"class_list":["post-19319","post","type-post","status-publish","format-standard","hentry","category-203k-streamline","category-mortgage","category-mortgage-programs","tag-fha-203k-streamline","tag-renovation-loan"],"acf":[],"yoast_head":"\nThe FHA 203k Streamline Renovation Loan: Home Rehab Made Easy<\/title>\n<meta name=\"description\" content=\"the fha 203k streamline renovation loan is for simple cosmetic updates. there is less paperwork but it's still and easy renovation home loan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The FHA 203k Streamline Renovation Loan: Home Rehab Made Easy\" \/>\n<meta property=\"og:description\" content=\"the fha 203k streamline renovation loan is for simple cosmetic updates. there is less paperwork but it's still and easy renovation home loan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\/\" \/>\n<meta property=\"og:site_name\" content=\"203krehabnow\" \/>\n<meta property=\"article:published_time\" content=\"2012-07-11T21:40:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-content\/uploads\/2012\/07\/Capture1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"632\" \/>\n\t<meta property=\"og:image:height\" content=\"333\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Leesa Sandoval\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Leesa Sandoval\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\\\/\"},\"author\":{\"name\":\"Leesa Sandoval\",\"@id\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/#\\\/schema\\\/person\\\/077ba4d7228c4608636fa8a7169e57ed\"},\"headline\":\"The FHA 203k Streamline Renovation Loan: Home Rehab Made Easy\",\"datePublished\":\"2012-07-11T21:40:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\\\/\"},\"wordCount\":562,\"image\":{\"@id\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/wp-content\\\/uploads\\\/2012\\\/07\\\/Capture1.jpg\",\"keywords\":[\"fha 203k streamline\",\"renovation loan\"],\"articleSection\":[\"203K Streamline\",\"Mortgage\",\"Mortgage Programs\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\\\/\",\"url\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\\\/\",\"name\":\"The FHA 203k Streamline Renovation Loan: Home Rehab Made Easy\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/wp-content\\\/uploads\\\/2012\\\/07\\\/Capture1.jpg\",\"datePublished\":\"2012-07-11T21:40:48+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/#\\\/schema\\\/person\\\/077ba4d7228c4608636fa8a7169e57ed\"},\"description\":\"the fha 203k streamline renovation loan is for simple cosmetic updates. there is less paperwork but it's still and easy renovation home loan.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\\\/#primaryimage\",\"url\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/wp-content\\\/uploads\\\/2012\\\/07\\\/Capture1.jpg\",\"contentUrl\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/wp-content\\\/uploads\\\/2012\\\/07\\\/Capture1.jpg\",\"width\":632,\"height\":333},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The FHA 203k Streamline Renovation Loan: Home Rehab Made Easy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/#website\",\"url\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/\",\"name\":\"203krehabnow\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/#\\\/schema\\\/person\\\/077ba4d7228c4608636fa8a7169e57ed\",\"name\":\"Leesa Sandoval\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a1f478e0fb8d6f79b87ef43e4a85326476dda64bb0f90ba61943a2f36286728e?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a1f478e0fb8d6f79b87ef43e4a85326476dda64bb0f90ba61943a2f36286728e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a1f478e0fb8d6f79b87ef43e4a85326476dda64bb0f90ba61943a2f36286728e?s=96&d=mm&r=g\",\"caption\":\"Leesa Sandoval\"},\"url\":\"https:\\\/\\\/dev203k.orbitwebx.com\\\/dev203k\\\/author\\\/leesasandoval\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The FHA 203k Streamline Renovation Loan: Home Rehab Made Easy","description":"the fha 203k streamline renovation loan is for simple cosmetic updates. there is less paperwork but it's still and easy renovation home loan.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/dev203k.orbitwebx.com\/dev203k\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\/","og_locale":"en_US","og_type":"article","og_title":"The FHA 203k Streamline Renovation Loan: Home Rehab Made Easy","og_description":"the fha 203k streamline renovation loan is for simple cosmetic updates. there is less paperwork but it's still and easy renovation home loan.","og_url":"https:\/\/dev203k.orbitwebx.com\/dev203k\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\/","og_site_name":"203krehabnow","article_published_time":"2012-07-11T21:40:48+00:00","og_image":[{"width":632,"height":333,"url":"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-content\/uploads\/2012\/07\/Capture1.jpg","type":"image\/jpeg"}],"author":"Leesa Sandoval","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Leesa Sandoval","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/dev203k.orbitwebx.com\/dev203k\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\/#article","isPartOf":{"@id":"https:\/\/dev203k.orbitwebx.com\/dev203k\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\/"},"author":{"name":"Leesa Sandoval","@id":"https:\/\/dev203k.orbitwebx.com\/dev203k\/#\/schema\/person\/077ba4d7228c4608636fa8a7169e57ed"},"headline":"The FHA 203k Streamline Renovation Loan: Home Rehab Made Easy","datePublished":"2012-07-11T21:40:48+00:00","mainEntityOfPage":{"@id":"https:\/\/dev203k.orbitwebx.com\/dev203k\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\/"},"wordCount":562,"image":{"@id":"https:\/\/dev203k.orbitwebx.com\/dev203k\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\/#primaryimage"},"thumbnailUrl":"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-content\/uploads\/2012\/07\/Capture1.jpg","keywords":["fha 203k streamline","renovation loan"],"articleSection":["203K Streamline","Mortgage","Mortgage Programs"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/dev203k.orbitwebx.com\/dev203k\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\/","url":"https:\/\/dev203k.orbitwebx.com\/dev203k\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\/","name":"The FHA 203k Streamline Renovation Loan: Home Rehab Made Easy","isPartOf":{"@id":"https:\/\/dev203k.orbitwebx.com\/dev203k\/#website"},"primaryImageOfPage":{"@id":"https:\/\/dev203k.orbitwebx.com\/dev203k\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\/#primaryimage"},"image":{"@id":"https:\/\/dev203k.orbitwebx.com\/dev203k\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\/#primaryimage"},"thumbnailUrl":"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-content\/uploads\/2012\/07\/Capture1.jpg","datePublished":"2012-07-11T21:40:48+00:00","author":{"@id":"https:\/\/dev203k.orbitwebx.com\/dev203k\/#\/schema\/person\/077ba4d7228c4608636fa8a7169e57ed"},"description":"the fha 203k streamline renovation loan is for simple cosmetic updates. there is less paperwork but it's still and easy renovation home loan.","breadcrumb":{"@id":"https:\/\/dev203k.orbitwebx.com\/dev203k\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/dev203k.orbitwebx.com\/dev203k\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/dev203k.orbitwebx.com\/dev203k\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\/#primaryimage","url":"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-content\/uploads\/2012\/07\/Capture1.jpg","contentUrl":"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-content\/uploads\/2012\/07\/Capture1.jpg","width":632,"height":333},{"@type":"BreadcrumbList","@id":"https:\/\/dev203k.orbitwebx.com\/dev203k\/the-fha-203k-streamline-renovation-loan-home-rehab-made-easy\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/dev203k.orbitwebx.com\/dev203k\/"},{"@type":"ListItem","position":2,"name":"The FHA 203k Streamline Renovation Loan: Home Rehab Made Easy"}]},{"@type":"WebSite","@id":"https:\/\/dev203k.orbitwebx.com\/dev203k\/#website","url":"https:\/\/dev203k.orbitwebx.com\/dev203k\/","name":"203krehabnow","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/dev203k.orbitwebx.com\/dev203k\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/dev203k.orbitwebx.com\/dev203k\/#\/schema\/person\/077ba4d7228c4608636fa8a7169e57ed","name":"Leesa Sandoval","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a1f478e0fb8d6f79b87ef43e4a85326476dda64bb0f90ba61943a2f36286728e?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a1f478e0fb8d6f79b87ef43e4a85326476dda64bb0f90ba61943a2f36286728e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a1f478e0fb8d6f79b87ef43e4a85326476dda64bb0f90ba61943a2f36286728e?s=96&d=mm&r=g","caption":"Leesa Sandoval"},"url":"https:\/\/dev203k.orbitwebx.com\/dev203k\/author\/leesasandoval\/"}]}},"_links":{"self":[{"href":"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-json\/wp\/v2\/posts\/19319","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-json\/wp\/v2\/comments?post=19319"}],"version-history":[{"count":0,"href":"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-json\/wp\/v2\/posts\/19319\/revisions"}],"wp:attachment":[{"href":"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-json\/wp\/v2\/media?parent=19319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-json\/wp\/v2\/categories?post=19319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-json\/wp\/v2\/tags?post=19319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}