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What improvements are NOT eligible under the FHA Streamline(k) Limited Repair Program

By Charles H. Gaulden

Real Estate Agent with Duval Realty of Jax

June 16, 2011 11:27 AM

What improvements are NOT eligible under the FHA Streamline(k) Limited Repair Program

Following is a list of non-eligible repairs:

New constructions including room additions
Repair of structural damage
Repairs requiring detailed drawings or exhibits
Any improvement that will take longer than 3 months
Foundation Repairs or new foundations on existing manufactured homes
Pool repairs
Landscaping or site-amenity improvements

This FHA 203k Short list of Home repairs that don't qualify for FHA 203k Streamline Home repairs but, are cover under the Full 203K Product

Charles H. Gaulden FHA/HUD 203KConsultant (ALLPro Realty Specialists)

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Stephanie Greenberg

Lion Real Estate - Fresno, CA

Fresno Homes For Sale

Thanks for the list. I thought that pool repair was covered. Has it changed?

Jun 16, 2011 11:36 AM

Mike Reyman

eXp Realty - Media, PA

Delaware County Real Estate

Just caught a great webinar given by the folks at Bank of America differentiating the FHA 203k Streamline loan vs. the full product. Both offer great opportunities for purchaers of distressed properties. I am planning to become better educated on this product so I can recommend it to the right clients. Thanks for the great summary.

Jun 16, 2011 11:38 AM

Charles H. Gaulden

Duval Realty of Jax - Jacksonville, FL

Pool Repairs are covered Up To $1,500.00. Once the cost go past that amount The Buyers has to put the rest in the Escrow Account to cover the Balance before closing.

Now FHA Streamline loans Can Not do Pool Repairs. Only Full 203k Loans can do Pool Repairs.

Jun 19, 2011 02:47 PM

What improvements are NOT eligible under the FHA Streamline(k) Limited Repair Program

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Charles H. Gaulden

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