203K Loan rehab, 203K Contractor Tampa, and Homepath Rehab Loan Construction – Tampa Bay
203K Rehab – Hybrid Construction has found a niche in assisting future homeowners with the rehab and remodel of existing homes prior to move-in. We are very familiar with the loan process and lender coordination for the FHA 203k and Homepath loans. We work with Owners during their property closing in order to establish a budget of what scope of work can fit within the rehab loans. The popularity of a rehab loan, as part of a mortgage, is growing everyday since many people are trying to buy foreclosed/distressed properties that are not move-in ready. These loan programs can give the Owner a chance to customize the home in lieu of settling for something in its previous condition. We highly recommend the rehab loan programs available and are happy to assist with the process from the home search through move-in. Experience with 203K Streamline and Full 203K Loans.
FHA 203K Streamline
– Max Loan amount is $35,000
– Does not typically require a HUD 203K certified inspector
– Sample Scope of Work includes: Kitchen Remodel, Bath Remodel, Painting, HVAC, Plumbing, Electrical, Roofing, Flooring, Doors and Windows, Appliances. Most work is allowed with the exception of Structural Changes and Additions.
FHA 203K Full Loan
– Loan Amounts Greater than $35,000
– Requires certified HUD 203K inspector
– Covers all of the work allowed under a 203K streamline, plus, Additions and Structural Changes.