If you are looking to find a great deal in the Boise real estate world, you would most likely look at buying a Boise foreclosure, Boise short sale or a Boise bank owned property. One of the problems with bank owned properties and foreclosures is that many of them need a little TLC such as new carpeting, a new roof or need new windows or paint etc.
In the past this could cost thousands out of your pocket. However, today there is an FHA loan available called the FHA 203(k) Streamline Limited Repair Program, which allows a borrower to purchase or refinance a home and make limited upgrades/repairs up to $35,000 to the property, all under one single loan.
So you are probably wondering how to qualify for an FHA 203(k) Rehab Loan:
It is fairly simple, all of the guidelines involved with the Idaho 203(k) Streamline Limited Repair Program are the same as if you were qualifying for a regular FHA loan. The only difference is that you will need the help of a contractor, unless you have experience in the construction arena, to estimate what it would cost to fix up the place how you want it.
If you are thinking about purchasing a Boise bank owned property, fixing up a foreclosure, or maybe you want to do some upgrades to your existing home without having to come up with a bunch of cash, a 203(K) Streamline Limited Repair Program might be right for you. Be sure to check out the 2009 Idaho FHA Loan Limits to see the loan limits in your county.
Check out some of the related posts below for more information.
Michelle Guth
Diversified Mortgage Group
Mortgage Consultant
Direct: 208-853-7878
Michelle@dmgloans.com
ID MBL-5696 / NMLS # 36853 / 36852 / 1850
www.idahohomegroup.com
Top Boise Idaho Mortgage Links/Articles/Questions
1. Idaho FHA 203k Streamline Rehabilitation Loans
2. Idaho Conventional Rehabilitation Home Loan for Investors, Second Homes and Primary Residences
3. Idaho FHA Reverse Mortgage
4. Idaho USDA Rural Development (RD) Zero Down 100% Financing loans
5. 10 Steps to Simplify Closing an Idaho FHA 203k Streamline Home Loan
6. Jumbo Mortgage Financing for Boise, Idaho Properties
7. Conventional Home Loans For Boise Idaho Borrowers
8. VA Mortgage Loans in Boise Idaho
9. Boise Idaho Reverse Mortgage Senior Loans
*This is not an offer to lend. 
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