FHA's Streamlined (k) Rehab Program. 3/06. Program Details. General Comments. A first mortgage that combines the purchase or refinance with the renovation costs. Fully disbursed at closing and insurable. Borrower can be owner-occupant, HUD approved non-profit or governmental agency.
Outlines the Streamlined (k) Program
Up to $35,000 of limited or uncomplicated repairs
Repairs identified in appraisal
be added above the $35,000 maximum.
Based on contractors bids/work plan
A 203(k) Consultant may be used at the borrower’s option