FHA 203(k) Rehabilitation Mortgage

About This Program

The FHA 203(k) program combines a home purchase or refinance loan with funds for renovation into a single FHA-insured mortgage. The Standard 203(k) covers structural repairs and extensive rehab over $35,000; the Limited (Streamline) version covers non-structural repairs under $35,000. Minimum down payment is 3.5% with a 620+ credit score. Available through any FHA-approved lender in Miami.

Total loan including renovation cannot exceed the FHA loan limit for Miami-Dade County. Not a grant — this is a mortgage product. Best for buyers purchasing a fixer-upper or homeowners refinancing to fund major repairs.

Key Details

• Combines home loan and renovation costs into one FHA-insured mortgage
• Limited 203(k): non-structural repairs under $35,000
• Standard 203(k): structural repairs and major rehab over $35,000
• Minimum 3.5% down payment, 620+ credit score required
• Call HUD at 800-225-5342 or visit an FHA-approved lender in Miami

How to Apply

Deadline: Rolling