203K STREAMLINE INELIGIBLE REPAIRS

By
Mortgage and Lending with Benchmark Mortgage nmls 2143 NMLS # 198479

INELIGIBLE REPAIRS

 

Major rehabilitation

 

New construction including room additions

 

Repair of structural damage

 

Repairs requiring detailed drawings

 

Landscaping or site amenity improvements

 

Any improvement that will take longer than 3 months

 

REHAB activities that...

 

Rehabs that require more than 2 payments

 

Requires architectural plans or exhibits or a plan reviewer

 

Results in work not starting within 30 days of a loan closing or cause the mortgagor to be displaced from the property for more than 30 days during the rehab period

 

FHA anticipates that mortgagors will occupy during rehab

 

Soon to follow...203k Streamline Appraisal Requirements

 

www.vshomeloans.com to fill out an online application.  Please contact me if you need a realtor specializing in 203k.

 

 

 

My name is Valerie Springer nmls 198479, Home Mortgage Expert and writer for Ask Val in Birmingham, Alabama. You may contact me by email at valerie.springer@nflp.com or call 205-995-7283 x 305.

Comments (1)

John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Valerie - This is valuable information. Thank you for sharing another excellent blog about 203K streamline ineligible repairs.

Jul 31, 2013 04:30 AM

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?