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FHA 203(k) Rehabilitation Mortgage

U.S. Department of Housing and Urban Development (FHA)

active Renovation Mortgage

About This Program

The FHA 203(k) loan allows homebuyers and homeowners to finance purchase (or refinance) and renovation costs in a single mortgage. The Limited 203(k) covers minor repairs up to $75,000, while the Standard 203(k) covers major structural renovations up to the FHA area loan limit. Only a 3.5% down payment is required for borrowers with a 580+ credit score.

Renovation costs financed into mortgage. Limited 203k: up to $75,000 in repairs; standard: up to area loan limit. Estimate reflects typical Limited 203k renovation.

Key Details

  • Finance home purchase and renovations in one FHA-insured mortgage
  • Limited 203(k): minor repairs up to $75,000 in renovation costs
  • Standard 203(k): major structural work up to FHA area limit
  • Minimum 3.5% down payment; 580+ credit score required
  • 2025 FHA loan limit in Charleston area: $806,500

How to Apply

Visit Official Program Page

Deadline: Ongoing — through FHA-approved lenders

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