The FHA 203 K streamline is back in our arsenal of mortgage programs.  Until recently there was just one investor in town offering the 203K.  That has changed.  Out of necessity, there needs to be a program that will allow qualified borrowers to obtain financing for properties that need a little bit of work. Many of the bank owned foreclosures are in need of some repair work. The regular 203K (which allows for major rehab in exess of 35K) isn't something I have access to with the investors I work with.  Trying to find that loan has proved to be impossible.  It may exist for Minnesota properties, I just haven't run across it. 

Rather than write out all the nuances of the FHA 203K streamline loan, I decided to create a power point.  You can view the particulars of how the program works at:

http://www.slideshare.net/mnguru/fha-streamline-203klight-rehab-loan-presentation/