FHA 203(k) Rehabilitation Mortgage

About This Program

The FHA 203(k) loan allows homebuyers and homeowners to finance renovation costs into a single mortgage. The Limited 203(k) covers up to $75,000 in repairs for non-structural improvements; the Standard 203(k) covers major structural work up to the county FHA loan limit. A minimum of $5,000 in eligible repairs is required. Lenders and HUD-approved consultants must be involved for Standard loans.

Not a grant – this is a mortgage loan product. Monthly payment calculated on total loan amount including renovations. Minimum 3.5% down payment required.

Key Details

• Limited 203k: up to $75,000 in repair costs, no structural work
• Standard 203k: structural repairs allowed, up to county FHA loan limit
• Minimum $5,000 in repairs required
• 3.5% minimum down payment; standard FHA credit requirements apply
• Contact an FHA-approved lender to apply

How to Apply

Deadline: No program deadline