Streamline FHA 403k Loan for Multi-family?

[Jonna Weber]

Hi BP - I was wondering if anyone has experience of successfully getting a Streamline 403k rehab loan for a 2-4plex purchase?   (This would be one where my client will owner occupy one of the units).  Please note: I am talking about a Streamline vs. a traditional 403k.  

Thanks!  

[Wayne Brooks]

It's a 203k loan, and as long as the renovations are less than $35k, with the 10% contingency, that's fine for a streamline. Your local FHA lender can give you all the specifics.