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What is the minimum amount of rehabilitation required for a non-streamlined Section 203(k) mortgage?

April 26, 2017minimum mortgage rehabilitation section

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What is the minimum amount of rehabilitation required for a non-streamlined Section 203(k) mortgage?

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There is a minimum $5,000 requirement for the eligible improvements on the existing structure on the property. Minor or cosmetic repairs by themselves are unacceptable; however, they may be added to the minimum requirement. Under the Streamlined 203(k) program, a minimum repair/improvement cost requirement is not applicable.