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)Subscribe to CommentsComment