FHA 203(k) Rehabilitation Mortgage

About This Program

FHA 203(k) allows homebuyers and existing owners to finance both the purchase/refinance of a home and renovation costs in a single mortgage. The Limited 203(k) covers minor improvements up to $75,000; the Standard 203(k) has no renovation cap (subject to county FHA loan limits) and allows structural repairs, full kitchen/bath remodels, HVAC replacement, and more. Minimum 3.5% down with 580+ credit score.

Loan — not a grant. Interest rate typically 0.5%–1% above standard FHA. Minimum $5,000 in renovations. Must be primary residence. Travis County FHA loan limit for 2025: approximately $766,550 for single-family.

Key Details

• Renovation financing rolled into single FHA mortgage — no separate construction loan
• Limited 203(k): up to $75,000 in repairs | Standard 203(k): structural and major renovations
• Min. 3.5% down payment, 580+ credit score
• Must be primary residence; min. $5,000 in renovation costs
• Contact HUD housing counselor at 800-569-4287 for lender referrals

How to Apply

Deadline: Rolling