visalia: Can I replace a failed septic system with the 203k loan program?
- 06/15/13 02:52 AM
Can I replace a failed septic system with the 203k loan program? Yes, but it must be a FULL or STANDARD 203k. This work would be considered "structural" and therefore should not be attempted with a streamlined k loan. Now that I have said that there is a major lender that says they have done hundreds of septic replacements all under the streamlined k program. This could bite the borrower as it doesn't then comply with the program guidelines. I actually received a call from a HUD official instructing me to get the word out that this repair is ONLY available … (0 comments)
Can I replace a failed septic system with the 203k loan program? Yes, but it must be a FULL or STANDARD 203k. This work would be considered "structural" and therefore should not be attempted with a streamlined k loan. Now that I have said that there is a major lender that says they have done hundreds of septic replacements all under the streamlined k program. This could bite the borrower as it doesn't then comply with the program guidelines.
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