Okay, we have discussed the general guidelines for the FHA 203(k) financing program and the eligible property types. So, what can you do with the money?
Here is a list of eligible improvements that can be made:
· repair or replace roof
· repair or replace gutters and downspouts
· upgrade plumbing system
· upgrade electrical systems
· exterior decks and patios and porches
· MINOR remodeling (no structural repairs)
· Interior painting
· exterior painting
· installation of new doors
· installation of new windows
· purchase and installation of new appliances
· lead-based paint stabilization
· disability access improvements
· basement finishing or remodeling (no structural repairs)
· basement waterproofing
· exterior wall residing
· septic system repair or replacement
· water well repair or replacement
This is a comprehensive list to take that ugly duckling home and turn it into a showplace.
For more information regarding the FHA 203K rehab financing loan please check out these other links:
For more information please feel free to give me a call.
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The opinions and general information in this blog are soley those of Kathy Sheehan. Specifics regarding an individual case should be discussed in detail with a loan professional. For a confidential consultation, please feel free to contact me via phone or email. All terms and conditions are subject to change.