As you may already know, FHA allows for financing the cost of eligible repairs on new home purchases by buyers who wish to occupy the residential property as their primary residence.
With a streamline 203k loan, a number of stringent procedures are waived. To qualify for this loan, the total cost of proposed repairs should not exceed $35,000. There are many other requirements that you can find on the FHA website.
The best way to find a FHA 203k streamline lender is to use the HUD lender search form. You can basically search for FHA approved lenders who have financed at least on 203k loan during the previous 12 months. The lender search form provides a number of options to filter the results.
You can find a local lender that can help you with a 203k streamline mortgage loan by narrowing you search to the city, county or state. If you enter the zip code, you can also restrict your search to lenders within a certain radius. This feature will be appreciated by those home buyers looking to find a streamline FHA 203k lender in a large city.