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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 lets homebuyers and homeowners 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. Only a 3.5% down payment is required with a 580+ credit score.

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

How to Apply

Visit Official Program Page

Deadline: Ongoing — through FHA-approved lenders

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