HUD / Federal Housing Administration
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.
Grant-approved contractors understand the documentation, inspections, and timelines, so your funding releases on schedule.
This is just one of many grants, rebates, and free programs available. Stack them together to maximize your savings.
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