FHA 203k Renovation

Finance a purchase or refinance with a renovation, all wrapped into one loan.


FHA 203k Renovation

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.

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