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FHA Section 203(k) Rehab Loan Program by On Q Financial
Lender: On Q Financial
Contact Information
Property Types
Program Description
The Federal Housing Administration's (FHA's) 203(K) Rehab Loan helps homeowners finance an additional amount to repair, improve or upgrade their home as part of an FHA-insured home purchase or refinance mortgage. Renovations and other non-energy home improvements may be financed. The actual mortgage loan is provided through an FHA-approved lender, such as On Q Financial, and the FHA provides mortgage insurance to reduce the risk of the additional project cost to the lender. The maximum additional project cost approved for the rehab work is determined by the expected value of the property after the improvements are completed. An FHA Rehab Loan may be paired with an Energy Efficient Mortgage in some cases in order to get additional funding for improvements. As with any typical mortgage, the FHA Rehab Loan can be structured in many different ways that may include closing costs, fees or points.
Verified by Lender on: 2/24/2016
The data provided is for informational purposes only. For actual loan terms specific to borrowers, contact the lender directly.
Types of Financing
Financing & Payment Information
Term (years):
Minimum Amount:
Maximum Amount:
Money Down Required:
Repayment Method:
Off-bill loan (Direct to Lender)
Payment Frequency:
Pre-Payment Penalty:
Allowable Projects
Funds Energy Efficiency projects
Funds Water Efficiency projects
Funds Renewable Energy projects
Funds Demand Response projects
Funds other energy projects
Funds other energy-related projects
Funds other non-energy projects
Other Program Requirements
Financing Approval Time
Immediate- Preliminary
Equity in Property Needed

Financial Products

Lien type Secured loan
Re-Payment Method Off-bill loan (Direct to Lender)
Property Types
Automatic payment option available Yes
Requires utility incentive program participation No
Must use Program's pre-approved contractors No
One-time fees (% of total financing)
One-time fees (fixed)
Ongoing fees
Financing Amount $5,000
Financing Term (yrs.) 30 year(s)
Rate Market Rate
Money Down Required? Yes
Credit Enhancement Available Yes - Insurance
Risk Mitigation Insurance
Transferrable Yes
Prepayment Penalty or Fee No
Tax Deductibility Yes
Minimum Credit Score Required
Equity in Property Required Yes
Debt to Income Ratio Required Yes
Involuntary Property Liens Allowed No
Foreclosures Allowed
Bankruptcies Allowed
Mortgage Lender Consent/ Acknowledgement No
Must be current on property taxes Yes
Must be current on mortgage Yes
Loan to value
Debt Service Coverage Ratio Yes: 0
Financing Approval Time Immediate- Preliminary
Projected Energy Savings/Cash Flow is considered No
Must be current on utility bill No

Upgrades Covered

No Results


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