FHA 203(k) Rehab Mortgage

Federal (HUD/FHA)

Available Home Repair

About This Program

Finance purchase and renovation in one FHA-backed loan. Limited 203(k) covers non-structural repairs up to $75,000. Standard 203(k) covers major renovations. Borrow up to 110% of property's after-improvement value. Ideal for buying and fixing a Detroit Land Bank or distressed property, Detroit's $78K median home value means buyers can purchase + renovate affordably with one loan.

Purchase + renovate in one loan, no equity needed upfront

Key Details

  • Purchase + renovation in one FHA loan
  • Limited 203(k): up to $75,000 for non-structural repairs
  • Standard 203(k): major structural renovations
  • Borrow up to 110% of after-improvement value
  • Ideal for Detroit Land Bank purchases

How to Apply

Visit Official Program Page Track this program

800-225-5342

Deadline: Year-round through FHA-approved lenders

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