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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 FHA-insured 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 rolled into mortgage. Limited 203k: up to $75,000 in repairs. Estimate reflects typical Limited 203k renovation project.

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 loan limit
  • Minimum 3.5% down payment; 580+ credit score required
  • Available through FHA-approved lenders in the Grand Rapids area

How to Apply

Visit Official Program Page

Deadline: Ongoing — through FHA-approved lenders

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