FHA Streamline Refinance

FHA loan refinance to lower interest FHA loan.
  • No Appraisal Required*
  • No Income Verification*
  • No Employment Qualifying*
  • No Assets Verification*
  • No Credit Qualifying*
  • No Debt Ratios
  • No Seasoning Required*
  • No Face to Face Application
* These items changed since Nov 17, 2009

VA Streamline Refinance

VA loan refinance to lower interest VA loan.
  • No Appraisal Required
  • No Income Verification
  • No Assets Verification
  • No Credit Qualifying
  • No Debt Ratios
  • No Seasoning Required
  • No Face to Face Application

FHA 203K Streamline Loan

Simplified (Streamlined) version of FHA 203K loan. It is "light" rehab loan (up to $35,000) under FHA guidelines perfect for most light fixers and upgrades. Owner occupied properties only. When combined with FHA purchase loan can be used for "fixer" purchases.
  • Can exceed the purchase price
  • Can be adjustable or fixed rate
  • Owner can do some of the work himself
  • Up to 6 months to complete work
Aug
01

need to write contract for fha 203k Realtor and lender seem to have no clue?

By
fha streamline


found a great home, short sale already approved and contract fell through, turns out they have until tomorrow to get a new contract submit.i want to submit but inside needs a bit of work, new carpeting, painting, appliances, fumigation, remodel bathrooms.possibly turn master bedroom half bath into full bath if possible (that’s the one biggie). how does 203k streamline work? does pre-approval letter need to include renovation amount? say i offer 200k and need 20k to renovate, does preapproval letter sent to bank need to state 220k?realtor and loan officer/broker both seem clueless on this.can i do 203k streamline or doe sit have to be traditional 203k?

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Categories : Q&A

2 Comments

1

I would suggest you change realtor and lenders now! Any good lender knows the in and outs of 203k loans. It is a separate loan,

2

Go to HUD Website and look up FHA 203K Consultants.
Always, contact an FHA Approved 203K Consultant first.
The Consultant should be able to help.

Jose S. Guerrero
HUD/FHA 203K Consultant
Austin, Texas

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