The 203K Streamline is a program that allows home buyers to finance up to an additional $35,000 into their mortgage to upgrade or improve their home before they move in. The loan can be used to purchase appliances, replace flooring, paint, etc.
The Streamline 203k is intended to facilitate rather simple repairs or improvements to a home when there is no need for engineers, consultants, or architects, such as:
â€¢ Repair/Replacement of roofs, gutters and downspouts
â€¢ Repair/Replacement/upgrade of existing HVAC systems
â€¢ Repair/Replacement/upgrade of plumbing and electrical systems
â€¢ Repair/Replacement of flooring
â€¢ Minor remodeling, such as kitchens, which does not involve structural repairs
â€¢ Painting, both exterior and interior
â€¢ Weatherization, including storm windows and doors, insulation, weather stripping, etc.
â€¢ Purchase and installation of appliances, including free-standing ranges, refrigerators, washers/dryers, dishwashers and microwave ovens
â€¢ Accessibility improvements for persons with disabilities
â€¢ Lead-based paint stabilization or abatement of lead-based paint hazards
â€¢ Repair/replace/add exterior decks, patios, porches
â€¢ Basement finishing and remodeling, which does not involve structural repairs
â€¢ Basement waterproofing
â€¢ Window and door replacements and exterior wall re-siding
â€¢ Septic system and/or well repair or replacement
Only Owner Occupants and qualified Non-Profit Borrowers may use this program. There are many more details on the HUD website.