Qualified assets products try singlewide, doublewide, triple-wide are produced house, standard home, single-family unit members property, duplexes, FHA-recognized condominiums, and you may HUD REO assets. Ineligible possessions models is actually 3-4 product attributes, demolished or razed homes, moved structures, mixed-explore characteristics, commercial services, co-op properties, money spent, mobile homes on rented homes, and you can low-FHA recognized condominiums. And additionally, an excellent 203k standard refinance with the a property with a current 203(k) Home loan is not entitled to end up being refinanced up until all the repairs is actually complete and you can closed-out.
There are particular criteria of your General Contractor, Insurance and you can Accountability Requirements, Assessment Requirements, Bid Criteria, Inspection, and you will Disbursement Conditions.