203k MADE EASY

Straight from HUD: 203(k) Program Links

Don't just take our word for it. Here are some great links to HUD's 203(k) website for more information:

Rehab a Home with HUD's 203(k)

FAQs on 203(k) Mortgage Insurance

Streamlined 203(k) Limited Repair Program

Funds for Handyman Specials and Fixer-Uppers

 

203(k) Quick Facts

One to Four Units

Eligible properties include one to four-family dwellings that have been completed for at least one year.

Monthly Payment Reserve

Up to 6 months of mortgage payments, including the mortgage insurance premium, may be placed in escrow to cover the monthly payments during the construcion period.

Foreclosed Properties

203(k) loans can be used to purchase and rehabilitate foreclosed properties that do not meet the regular FHA requirements

Refinancing

203(k) loans can be used to refinance and improve a property that is currently owned by the borrower.