FHA Waiver for Limited 203k Properties

limited 203k program

On January 24 2018, the Federal Housing Administration (FHA) issued a temporary waiver of its Limited 203k program policy regarding the time period in which borrowers may be prevented from occupying the property as a result of repairs in determining whether a repair is considered “major.” The temporary waiver applies to Limited 203(k) mortgages closed on or before June 30, 2018, secured by properties in the Commonwealth of Puerto Rico.

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