The U.S. Department of Housing and Urban Development has introduced enhancements to the streamlined 203(k) program to facilitate the purchase of property that needs only minor rehab work. The 203(k) program is the primary FHA program for the rehabilitation and repair of single-family properties. Unlike the basic 203(k) program where funding can be provided for the total reconstruction costs, the new program is intended to provide funding for only basic repairs.

Bringing the Dream of Homeownership Within Reach

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that: