Purchase and Rehab with ONE loan and ONE closing FHA HOME RENOVATION LOAN PROGRAM (203KS) Also available for Refinancing of existing owner occupied Properties Example of a 203K Streamline Household improvement up to a maximum of $35,000. Home purchase with 3.5% Down (Can be gifted) HUD has defined eligible renovation as: OWNER OCCUPIED PROPERTIES ONLY Repair/Replacement roofs, gutters, and downspouts Repair/Replacement/Upgrade of existing HV AC systems Repair/Replacement/Upgrade of plumbing and electrical systems Repair/Replacement of existing flooring Minor remodeling such as kitchens, which does not involve structural repairs Exterior and interior painting Weatherization: including storm windows and doors, insulation, weather stripping, etc. Appliances - Purchase and installation are included. Appliances may include free-standing ranges, refrigerators, washers/dryers, dishwashers, and microwaves Lead-based paint stabilization or abatement of lead-based paint hazards Repair/Replace/Add exterior decks, patios, porches Basement finishing and remodeling, which does not involve structural repairs Basement waterproofing Window and door replacements and exterior wall re-siding Septic system and/or well repair or replacement Improvements for accessibility for persons with disabilities For lead-based paint stabilization costs above and beyond that paid for by HUD when it sells real estate owned (REO) HUD has defined Ineligible Renovation as: Major rehabilitation or major remodeling, such as the relocation of a load bearing wall New construction (including room additions) Repair of structural damage Repairs requiring detailed drawings or architectural exhibits Landscaping or similar site amenity improvements Any repair or improvement requiring a work schedule longer than six (6) months Rehabilitation activities that require more than two (2) payments per specialized contractor Additional Types of Home Renovation Products 203K 203KS Fannie Mae Home Style Links HUD 203K Fannie Mae HomeStyle