FHA 203k Renovation Loans

Buy and renovate in one loan - finance both purchase and repairs

The FHA 203k loan program is a powerful financing tool that allows you to purchase a home and fund its renovation or repair with a single mortgage. Instead of taking out separate loans for the purchase and improvements, the 203k loan combines everything into one convenient package with one monthly payment.

This program is ideal for buyers who want to purchase a fixer-upper, investors looking to renovate rental properties, or homeowners who want to refinance and make significant improvements to their current home. With access to 260+ lenders through our network, we can find the perfect 203k loan solution for your renovation project.

Key Benefits

One Loan, One Payment

Finance both the purchase price and renovation costs with a single mortgage and one monthly payment

Low Down Payment

FHA backing means you can qualify with as little as 3.5% down on the total project cost

Flexible Credit Requirements

More lenient credit score requirements compared to conventional renovation loans

Two Program Options

Choose between Standard 203k (major renovations) or Limited 203k (repairs up to $35,000)

Increase Home Value

Build instant equity by purchasing below-market properties and renovating them

Wide Range of Improvements

Finance structural repairs, room additions, kitchen/bath remodels, energy efficiency upgrades, and more

What Can You Finance?

Structural Improvements

Foundation repairs and reinforcement
Roof replacement or major repairs
HVAC system installation or replacement
Plumbing and electrical upgrades
Room additions and expansions

Cosmetic & Functional Updates

Kitchen and bathroom remodeling
Flooring replacement (carpet, tile, hardwood)
Window and door replacement
Energy efficiency improvements
Accessibility modifications

Typical Requirements

Credit score of at least 500 (580 for 3.5% down payment)

Property must be your primary residence (1-4 unit properties)

Detailed renovation plan and contractor bids required

Work must be completed within 6 months (Standard 203k)

Licensed contractors required for most projects

Property must meet FHA minimum property standards after renovation

Choose Your 203k Program

Standard 203k

For major renovations and structural repairs with no upper limit on renovation costs

Structural repairs and additions
Requires HUD consultant
6-month completion timeline
More complex approval process

Limited 203k

For non-structural repairs and improvements up to $35,000

Cosmetic and minor repairs only
No HUD consultant required
Faster approval process
Ideal for move-in ready homes needing updates

Ready to Get Started?

Contact us today to learn more about FHA 203k renovation loans and see if it's right for your project. Our experienced team will guide you through every step of the process.

APPLY NOW CALL (480) 546-8001