I am looking to purchase a home with the streamline 203k loan. I am wondering if anyone here has any experience? From what I found you can do the work yourself for loans less than 35,000 and if you use less than 15,000 you don’t even need an inspection you just need to provide receipts. Anyone done this and have any advice for a first time home buyer? Thanks
While Technically the program allows you to do the work, I have never found a Lender that will allow this.....they are the ones who approve the contractor.
Find a local lender experienced with 203k’s, they are ones who decide.
I just got off the phone with my mortgage broker and he's recommending the streamline 203k. Keep me updated how your experience is and I'll do the same.