About Middleburg's 218 & Blanding

WHAT IS THE FHA/HUD 203K lOAN PROGRAM?

The Federal Housing Authority's 203k loan program is HUD's primary program for the rehabilitation and repair of single-family properties and Multi-Family Properties. By offering funds to both purchase and rehabilitate properties, it is an important tool for community and neighborhood revitalization efforts and for expanding homeownership opportunities.

WHAT IS AN FHA SECTION 203K LOAN?

The 203k is a Federal Housing Administration (FHA) mortgage insurance program, which enables homebuyers and homeowners to finance both the purchase (or refinance) of a house and the cost of its rehabilitation through a single mortgage, or to finance the rehabilitation of their existing home. The minimum amount that can be borrowed is $5,000.

Charles H Gaulden FHA/HUD 203K Consultant

WWW.NorthFloridaShortSales.com

Some REO's and Short Sales Home Purchases involve Pool Repairs. FHA /HUD 203k Program only allows $1500.00 for Pool Repairs.

So, if the Pool Repairs is not enough and your Pool Contractor recommends a New Pool Linen which can cost North of $3,200 To $3,800.00 the Buyers may have to come up with the balance.

WWW.NorthFloridaShortsales.com

Charles H Gaulden

According FHA/HUD Guidelines the Following is a list of eligible repairs:

• Roofs, gutters, and downspouts
• Upgrade of existing HVAC systems
• Upgrade of plumbing and electrical systems
• Flooring
• Exterior decks, patios, porches
• Weatherization - including storm windows/doors, insulation, weather stripping, etc.
• Purchase and installation of new appliances
• Disability access improvements
• Lead-based paint stabilization or abatement of lead-based paint hazards
• Basement finishing/remodeling, which doesn't require structural repairs
• Basement water-proofing
• Window and door replacement
• Exterior wall re-siding
• Septic system and/or well repair or replacement
• Accessibilty Improvements for persons with disabilities

Charles H Gaulden FHA/HUD 203K Consultant

WWW.NorthFloridaShortsales.com

Call Me if you need a Good FHA 203k Lender.

According to FHA/HUD Guidelines the Following is a list of non-eligible repairs:

• New constructions including room additions
• Repair of structural damage
• Repairs requiring detailed drawings or exhibits
• Any improvement that will take longer than 3 months
• Foundation Repairs or new foundations on existing manufactured homes
• Pool repairs
• Landscaping or site-amenity improvements

Call me or visit at 904-859-1778 or WWW.NorthfloridaShortsales.com for more Information and Lender that are excellent at working with FHA/HUD 203K Products

Charles H Gaulden FHA/HUD 203K Consultant

First Time Home Buyers You can Use a FHA 203K Streamline or 203K Full Loan to turn a Short Sale Home Purchases, Bank Owed Homes a Renovation Dream After Closing.

Complete Kitchen Renovation...
Complete Bathrooms Renovation...
Re-Paint Interior and Exterior Walls..
Replacement of Existing Windows...
Doors; Interior and Exterior..... Include All the Major.


Come Visit me at WWW.NorthFloridaShortsales.com To help You Find that Short Sale, Foreclosure Property and Bank Owed Homes (REO) to Renovate