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 How is the Streamlined 203k program different from the 203k  Standard mortgage?

Home > Faq > How is the Streamlined 203k program different from the 203k Standard mortgage?

How is the Streamlined 203k program different from 203k Standard mortgage?

  • The Streamlined(k) program allows up to 2 draws(one initial draw for materials and one final draw after work is completed), and minor cosmetic repairs.
  • With a Streamlined 203k loan, mortgage payments cannot be financed, therefore the property must be habitable at the time of closing.
 

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