For more information, contact me:
Joan Trossen, Realtor® / Broker
(909) 653 . 4341
joni@AskJoni.com


FHA 203K LOAN -
Structural alterations, reconstruction, Air conditioning, heating, plumbing,electrical, roofing, gutters,flooring, carpeting, tiling

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    • A 203-K loan allows a borrower to purchase a property and complete the improvements after close of escrow.


    Eligible properties include:
    1-4 Units;
    Owner-occupied Condos (must be on the FHA "Approved list");
    Conversions to 2-4 Units;
    and "Mixed" Use Residential Properties.


    203-K loans are available only to those who are qualified and will occupy the property.


    There is a minimum requirement of $5,000 in eligible improvements on the subject property. The mortgage must include one or more of the following items to comply:


    • Structural alterations and reconstruction
    • Elimination of health and safety hazards
    • Improvement in functionality of modernization aesthetic changes
    • Elimination of obsolescence
    • Air conditioning, heating, plumbing, electrical, roofing, gutters
    • Flooring, carpeting, tiling, installation of wells and septic tanks
    • Energy conservation improvements improvement for handicapped accessibility


    All improvements must meet HUD standards. These include compliance with local codes, safety regulations, etc. The program requires that work be completed within six months of closing.

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    Joan (joni) Trossen, [E-MAIL]
    Not Your Ordinary So. CA - Riverside / San Bernardino County - Broker / Agent
    40 years of service
    I want to be your Southern California RealtorŪ
    909 . 653 . 4341