203K Streamiline............

[Michael Dunn]

Hi BP community,

I need some help/confirmation , to make sure what I have been hearing and reading is accurate, when it comes to the FHA 203K streamline ......

1. with this loan, as long as I hire a Insured and Bonded Contractor, to write up the bid for the repairs and work that needs done, and who oversees and submits the paper work , as well as gets the Draws for the repairs as need,as long as a Contractor does all this, Could myself and my dad who have both been doing construction for over 30 years , do most of the work , under the " Self-Help " clause?

2. I'll be buying as an O.O, but my question is.... after 1 year , what LTV would I be able to get , if I wanted to do a cash-out refi. ? 90% LTV , 95% LTV ?

Thanks everyone, I really appreciate the help