Home Rehabilitation Loan

Homeowners who bought a single-family home from HUD can finance up to an additional $35,000 into their mortgage loan by taking advantage of what is called a “Streamlined 203(k) Limited Repair Program.”

Under this program, you are able to get a loan for needed repairs identified by a FHA appraiser or a home inspector, as long as the repairs are not complicated and do not require plans or the skills of architects, engineers, consultants, etc.

Typical improvements that are covered are:

• Repair and or replacement of roofs, gutters and downspouts.
• Repair and or replacement/upgrade of existing HVAC systems.
• Repair and or replacement/upgrade of plumbing and electrical systems.
• Repair and or 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.

For additional information and how to benefit, please contact your Realtor or visit the US Department of Housing and Urban Development’s website.

Source: www.hud.gov