FHA 203(k) Standard Renovation Loan

About This Program

The FHA 203(k) Standard Renovation Loan allows homebuyers and existing homeowners to finance major renovation costs within a single FHA-insured mortgage. It covers structural repairs, room additions, HVAC, roofing, plumbing, electrical, and accessibility improvements exceeding $35,000. A 20% contingency reserve and up to 6 months of mortgage payments during renovation are included. Minimum credit score 580 with 3.5% down.

Not a grant — this is a loan at FHA mortgage rates. Renovation costs are rolled into one mortgage payment. Must use a HUD-approved 203(k) consultant.

Key Details

• Finance home purchase AND renovation in one FHA mortgage
• Covers major structural repairs, HVAC, roofing, plumbing
• Minimum credit score 580, 3.5% down payment
• Includes 20% contingency reserve and up to 6 months of payments
• Find HUD-approved lenders at hud.gov

How to Apply

Deadline: Ongoing