The Limited loan is for small scale projects not requiring a consultant or project manager. The loan is for projects where the owner can immediately occupy the house upon closing. Once work is complete, the contractor is paid.

Eligible and Ineligible Repairs with Limited 203(k)

Eligible Repairs Ineligible Repairs
Repair/replacement roof, gutters, downspouts Major rehabilitation or remodeling, eg. Relocation of a load bearing wall
Repair/replace/upgrade existing HVAC systems New construction, including room additions
Repair/replace/upgrade plumbing or electrical Repairs of structural damage
Repair/replacement of existing floors Repairs requiring detailed drawings, architectural drawings or permits
Minor remodeling not involving structural repairs Rehab projects that require more than two payments per contractor
Exterior and interior painting, including lead paint stabilization Landscaping or site amenity improvements
Weatherization, including storm windows and doors, insulation, weather stripping, etc. Work that causes the borrower to be displaced from the property for more than 30 days during the rehab
Repair/replace/upgrade of appliances (free-standing ranges, refrigerators, washers, dryers, dishwashers and microwaves) Work that requires the consultant to develop a work write-up
Accessibility improvements for disabilities Any project requiring a schedule of more than six months
Basement finishing/remodeling/waterproofing (not requiring structural repairs) Luxury items like, tennis court, gazebo, bath house, photo mural, TV antenna, satellite dish, outdoor fireplace/hearth or barbecue pit
Repair/replace/add decks, patios and porches Additions or alterations to provide for commercial use
Repair/replace/upgrade existing HVAC systems Additions or alterations to provide for commercial use
Window and door replacement and exterior wall residing New swimming pool
Septic and/or well repair or replacement