Q: Can I work on the project myself?

A: Sure. On a Streamlined 203k you can do most any work on the project that doesn’t require that you be a licensed contractor and reduce your loan amount!

Q: Can I use the 203k for just remodeling and updating my home?

A: Yes. When you refinance using the 203k Streamline program you can add that new kitchen, windows, insulation and any general repairs.

Q: Can I use it for an addition to my home?

A: Sure. It makes sense to improve your home rather than sell it in the current market. This way you’re not losing your equity when you go to sell in the future.

Q: Can I use the FHA 203k to purchase a foreclosure, short sale or bank owned property?

A: Yes. As long as it’s owner occupied and you intend to keep it for three years.

Q: I’ve heard that these types of loans are troublesome, is that true?

A: No. Most of the individuals and professionals that say that don’t understand the program or how to use it. That’s why it’s best to start out with a team that has experience, starting with a 203k Consultant to help you build your team!