The new FHA 203k loan for structural repairs is here and now available. This new FHA loan has many facets including the following:
- FHA 203 Streamline: This loan allows borrowers to finance their purchase or refinance an existing loan to make improvements to the home or upgrades. This can be up to $35,000.00 and a minimum of $5,000 in repair costs required.
- FHA 203 Full: This program allows borrowers to finance the purchase of their home or apply for a refinance o an existing home to complete: major renovations, improvements or structural repairs. The “major improvements must be up to 50% of the “subject-to appraised value”. The minimum total repair is again $5,000.00 and the work is to be completed after the loan closes.
At the Law Offices of Jacqueline Salcines, P.A. we represent borrowers and homeowners with all of their real estate and mortgage needs. From initial applications and searching for programs for their mortgage needs, to working closely with the borrower and lender to obtain the full amount required, we are there every step of the way. Attorney Jacqueline Salcines, Esq. personally handles all her own closings and is at the closing table with you, the borrower, to explain all documents requiring signature. This includes signing of the mortgage, promissory note, truth in lending and all disclosures.
The Law Offices of Jacqueline Salcines, P.A. is a full service real estate law firm offering real estate, title, mortgage and escrow services.
Contact us today. No office visit is required and the phone consultation is 100% free of charge. Call and speak to attorney Jacqueline A. Salcines, Esq. Today!
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Jacqueline A. Salcines