|The Legacy Team of LeaderOne Financial specializes in FHA 203(k) Rehabilitation and Renovation Loans. We offer 203(k) Renovation loans, which include regular programs, streamline programs, purchases, refinances and owner occupied only.
The streamline program and the regular program are discussed in more detail on the respective tabs on the left. Click the tabs for more information.
To be eligible for a 203(k) Renovation Loan, please see the requirements below:
Ineligible property includes:
- 1-4 family home completed for at least 1 year.
- Conversion of multi-unit dwelling decreasing the number of units.
- Conversion of single family dwelling increasing the number of units.
- A complete rehab as long as the entire foundation system remains in place.
- Condos have no structural work.
Other program guidelines include:
- Homes completed for less than 1 year.
- Homes that have never been completed.
- Cooperative units.
- Non-owner occupied.
- Non-profit companies.
- REO (Real Estate Owned) property can be done on either program (1 unit properties only for streamline and 15% contingency reserve required on streamline program).
- Can be combined with an EEM (Energy Efficient Mortgage).
Contact us for more information on FHA 203(k) Renovation Loan fees and time frames.
The Legacy Team with LeaderOne Financial
FHA 203k Rehab loans, home loans and renovation mortgages