If you are looking to purchase a primary residence that needs minor home improvements then the
FHA 203k Streamline Rehab Loan may be the type of loan you are looking for....

Please read below and if this Loan appears to be one that you are interested in qualifying for, then simply click on the link

• Minimum 600 Middle Credit Score {580 Credit Score Exception}
• Maximum Debt to Income Ratio 29% housing/45% total debt
• Full Income/Asset Disclosure Required
• No more than two 30 day lates payments on Mortgage in last 12 months
• No un-seasoned MLS listings on Refinances
• No Chap. 7 Bankruptcies < 2 Years
• Cannot have Layering of Risk Factors
• Scores below 600 allowed on Appraisal Repairs Only
• Full Appraisal with Repair List Required
• Max 97% LTV, w/Minimum 3% Down Payment Required
• MAXIMUM for repair or rehabilitation is $35,000.
• NO MINIMUM: No minimum repair cost threshold.
• PURCHASE and REFINANCES ALLOWED: Program can be used for both
  purchase and for credit-qualifying no cash out" refinance transactions with appraisal.
• HUD Real Estate Owned Properties (REO's) ALLOWED: Program can be used on HUD REO properties
• LEAD BASE PAINT: The Streamlined (k) can be used to pay for lead-based paint stabilization costs above and beyond that paid for by HUD when it sells real estate owned (REO).
• Up to 50% of the estimated cost of any work item can be advanced prior to beginning construction.
• No more than two payments may be made to each contractor. The first payment is intended to defray material costs and shall not be more than 50% of the estimated costs of all repairs/improvements.
• Expenses that may be included in the total amount of the improvements, not exceeding the $35,000 limit, are inspection fees, building and other permits, the supplemental origination fee, title update costs and theamount of any contingency reserve required by the mortgagee.

• Repair/Replacement of roofs, gutters and downspouts
• Repair/Replacement/upgrade of existing HVAC systems
• Repair/Replacement/upgrade of plumbing and electrical systems
• Repair/Replacement of flooring
• Minor remodeling, such as kitchens, which does not involve structural repairs
• Painting, both exterior and interior
• Weatherization, including storm windows and doors, insulation, weather stripping, etc.
• Purchase and installation of appliances, including free-standing ranges, refrigerators, washers/dryers, dishwashers and microwave ovens
• Accessibility improvements for persons with disabilities
• Lead-based paint stabilization or abatement of lead-based paint hazards
• Repair/replace/add exterior decks, patios, porches
• Basement finishing and remodeling, which does not involve structuralrepairs Basement waterproofing
• Window and door replacements and exterior wall re-siding
• Septic system and/or well repair or replacement

• Major rehabilitation or major remodeling, such as the relocation of a load-bearing wall;
• New construction (including room additions);
• Repair of structural damage;
• Repairs requiring detailed drawings or architectural exhibits;
• Landscaping or similar site amenity improvements;
• Any repair or improvement requiring a work schedule longer than six (6) months; or Rehabilitation activities that require more than two (2) payments per specialized contractor.
• Must use a contractor(s), borrower cannot act as their own contractor
• Supplemental Origination per worksheet is allowed
• No Manufactured Housing is allowed!
• All repair disbursements other than initial disbursement to a specific contractor will require a Final Inspection by FHA appraiser.
• Must use a contractor(s), borrower cannot act as their own contractor.
• Supplemental Origination per worksheet is allowed
• No Manufactured Housing is allowed
• All repair disbursements other than initial disbursement to a specific contractor will require a Final Inspection by FHA appraiser.