112016Jul
203k Loan Programs To Be Used for Renovations

203k Loan Programs To Be Used for Renovations

Pine Tree Construction (PTC) is a family-owned and operated business for over 30 years in Utah and California. Our business is built upon honesty, integrity, and high-quality performance.

For more than 30 years, PTC has helped owners bring their building dreams into reality. We not only deliver superior construction quality, but we put our clients first with valued engineering ideas to save money and time. Throughout our 30 years of operation, we have always had one goal in mind, Customer Satisfaction.

We are a member of Better Business Bureau. Additionally, we are a certified contractor for 203(K) HUD program.

PTC has taken the time to build a solid foundation of expertise and knowledge that offers our clients a systematic and ground-up approach for any type and size of projects.

We are proud to offer financing to help our customers bring their dreams into reality by choosing a program that will meet their needs. We also accept credit cards and PayPal. By using these products; we can build your commercial project, your first home, build your
retirement nest, finish your basement, add a new bedroom and bathroom, or do an addition to help you with your growing family and many other renovations.

Building on a rich legacy of excellence and integrity, PTC will make your dreams and concepts a reality in a timely manner and affordably with outstanding customer satisfaction through each phase of building project.

Hud 203k loans can be used for various renovating projects for your renovating projects.

The following is a list of projects for using this program. For comprehensive information, please refer to the handbook at
For additional information see Handbook 4000.1 II.A.8.a.vii.(A) at http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/hudclips/handbooks/hsgh

The Limited 203(k) Rehabilitation Mortgage Insurance Program may only be used for minor remodeling and non-structural repairs. The total rehabilitation cost may not exceed $35,000. There is no minimum repair cost.

Eligible improvement types include, but are not limited to:
• eliminating health and safety hazards that would violate HUD’s Minimum Property
Requirements (MPR);
• repairing or replacing wells and/or septic systems;
• connecting to public water and sewage systems;
• repairing/replacing plumbing, heating, AC and electrical systems;
• making changes for improved functions and modernization;
• eliminating obsolescence;
• repairing or installing new roofing, provided the structural integrity of the structure will not be
impacted by the work being performed; siding; gutters; and downspouts;
• making energy conservation improvements;
• creating accessibility for persons with disabilities;
• installing or repairing fences, walkways, and driveways;
• installing a new refrigerator, cooktop, oven, dishwasher, built-in microwave oven and washer/
dryer;
• repairing or removing an in-ground swimming pool;
• installing smoke detectors;
• installing, replacing or repairing exterior decks, patios, and porches; and
• covering lead-based paint stabilization costs (above and beyond what is paid for by HUD when
it sells REO properties) if the structure was built before 1978, in accordance with the Single
Family mortgage insurance lead-based paint rule and EPA’s Renovation, Repair, and Painting
Rule.

improvements that are eligible under the Standard 203(k):

Types of eligible improvements include, but are not limited to:
• converting a one-family structure to a two-, three- or four-family structure;
• decreasing an existing multi-unit structure to a one- to four-family structure;
• reconstructing a structure that has been or will be demolished, provided the complete existing
foundation system is not affected and will still be used;
• repairing, reconstructing or elevating an existing foundation where the structure will not be
demolished;
• purchasing an existing structure on another site, moving it onto a new foundation and
repairing/renovating it;
• making structural alterations such as the repair or replacement of structural damage, additions
to the structure, and finished attics and/or basements; (Any addition of a structure unit must be
attached to the existing structure)
• rehabilitating, improving or constructing a garage;
• eliminating health and safety hazards that would violate HUD’s Minimum Property
Requirements (MPR);
• installing or repairing wells and/or septic systems;
• connecting to public water and sewage systems;
• repairing/replacing plumbing, heating, AC and electrical systems;
• making changes for improved functions and modernization;
• making changes for aesthetic appeal;
• repairing or adding roofing, gutters and downspouts;
• making energy conservation improvements;
• creating accessibility for persons with disabilities;
• installing or repairing fences, walkways, and driveways;
• installing a new refrigerator, cooktop, oven, dishwasher, built-in microwave oven, and washer/
dryer;
• repairing or removing an in-ground swimming pool;
• installing smoke detectors;
• making site improvements;
• landscaping;
• installing or repairing exterior decks, patios, and porches;
• constructing a windstorm shelter; and
• covering lead-based paint stabilization costs, if the Structure was built before 1978, in
accordance with the Single Family mortgage insurance lead-based paint rule (24 CFR 200.805
and 200.810(c)) and the U.S. Environmental Protection Agency’s (EPA) Renovation, Repa