NMLS # 1101220     |     FAIR LENDER     |     FAIR HOUSING

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MLB Residential Lending, LLC. is located at 51 Commerce Street, Springfield, NJ 07081, 732.243.0140. MLB Residential Lending, LLC. NMLS #1101220 is a residential lender, licensed by the NJ Department of Banking and Insurance; licensed by the PA Department of Banking and Securities; licensed by the CT Department of Banking; licensed by the DE Dept. of the Banking Commissioner; and is licensed under the FL Mortgage Lender Service License #MLD1128. All rates are subject to change without notice. MLB in no way, claims to represent or to conduct business on behalf of HUD, the FHA or the Federal Government. This site is not authorized by the New York State Department of Financial Services

Standard 203k Mortgage

The Standard 203k Mortgage allows you to do just about anything to your home, which includes structural changes!  Unfortunately, you cannot make non-permanent changes or include luxury items to your home.

Here is a list of Eligible Repairs / Renovation costs:

  • Major rehabilitation, such as the relocation of a load-bearing walls

  • New construction, including room additions

  • Repairs to structural damages

  • Repairs requiring detailed drawings or architectural exhibits

  • Landscaping or site improvement

  • Repairs requiring a work schedule longer than three (3) months

  • Rehabilitation activities that require more than two (2) payments per specialized contractor

  • Improvements that require a plan reviewer

  • Improvements that result in work not starting within 30 days after loan closing

  • Improvements that cause the owner to be displaced from the property for more than 30 days during the time the rehabilitation work is being conducted

Unlike the Limited 203k Mortgage, you can do more repairs / renovations with the Standard 203k mortgage!