Are you looking to purchase a fixer-upper or want to upgrade your existing home to better fit your needs?

Perhaps when buying a home, you’ve fallen in love with a property’s location but it’s missing your dream kitchen. Maybe the existing home you love requires accessibility upgrades to fit your lifestyle.

An FHA Standard 203K Renovation, also called a 203K Rehab loan, includes the additional funds necessary for upgrades or repairs into one mortgage, meaning you’ll only have one convenient monthly payment without the need for a second loan.

This program is ideal for borrowers looking for a low down payment loan for major renovations or upgrades.

Key Features and Benefits of the Standard FHA 203K Loans:

• Low 3.5% down payment
• May be used for 1-4 unit family dwellings, townhouses, and condominiums.
• Available for purchase or refinance.
• Borrower has 6 months to complete renovations.
• Flexible credit qualifying - less restrictive than conventional loan programs.
• 30-year fixed-rate loans keep your monthly budgeting simple.