This new fha program allows borrowers to finance improvements/upgrades up to $35,000 into the mortgage at the time of purchase. If you are considering refinancing you current mortgage, this program can help with that too. All work must be completed within three months of closing.  The work must be done by licensed contractors. If you are in a profession that demonstrates the ability to perfom some of the work it would be allowed, ie. electrician can perform electrical update.

Type of repair or updates are:

1. Repair/replacement of roofs, gutters, and downspouts
2. Upgrade of existing HVAC systems
3. Upgrade of plumbing & electrical systems
4. Flooring
5. Exterior decks, patios, porches
6. Minor remodeling (as long as it does not involve movemvent of structural walls) no additions.
7. Painting – interior/exterior
8. Weatherization – including storm windows/ doors, insulation, weather stripping, etc
9. Purchase & installation of new appliances (including washer and dryer)
10. Disability access improvements
11. Lead based paint stabilization or abatement of lead-based paint hazards
12. Basement finishing/remodeling, which doesn’t require structural repairs
13. Basement water-proofing
14. Window & door replacement
15. Exterior wall re-siding
16. Septic system and/or well repair or replacement.