In addition to our True 1x Close FHA Const/Perm loan program,  National Capital Funding, Ltd. also provides construction administration services for the FHA Streamlined (k) Limited Repair Loan Program. Our service allows permanent lenders to offer this program to their clients without the expense of managing their own construction loan dept.

     The Streamlined (k) program is intended to facilitate uncomplicated rehabilitation and/or improvements to a home for which plans, consultants, engineers and/or architects are not required.  The Streamlined (k) program includes the discretionary improvements and/or repairs shown below:

• Repair/Replacement of roofs, gutters and downspouts

• Repair/Replacement/upgrade of existing HVAC systems

• Repair/Replacement/upgrade of plumbing and electrical systems

• Repair/Replacement of flooring 

• Minor remodeling, such as kitchens, which does not involve structural repairs

• Painting, both exterior and interior

• Weatherization, including storm windows and doors, insulation, weather stripping, etc.

• Purchase and installation of appliances, including free-standing ranges, refrigerators, washers/dryers, dishwashers and microwave ovens

• Accessibility improvements for persons with disabilities

• Lead-based paint stabilization or abatement of lead-based paint hazards 

• Repair/replace/add exterior decks, patios, porches

• Basement finishing and remodeling, which does not involve structural repairs

• Basement waterproofing

• Window and door replacements and exterior wall re-siding

• Septic system and/or well repair or replacement

Read more about this program in HUD Mortgagee Letter 2005-50.

For more information, contact Roger K. McKnight