FHA 203(k) Rehabilitation Mortgage

About This Program

The FHA 203(k) loan allows Providence homebuyers and existing owners to finance both purchase (or refinance) and renovation in a single mortgage. The Limited 203(k) covers minor repairs up to $75,000; the Standard 203(k) accommodates major structural work up to the 2025 FHA county loan limit. Providence's older housing stock makes this program a strong fit for buyers seeking to purchase and rehabilitate.

Limited: up to $75,000 rehab; Standard: major work up to county FHA limit.

Key Details

• Combines purchase/refi + renovation in one FHA-backed loan
• Limited 203(k): up to $75,000 in rehab costs for minor repairs
• Standard 203(k): major structural and systems work
• Minimum 3.5% down payment; FHA credit requirements apply
• Ideal for Providence's older Victorian and triple-decker stock

How to Apply

Deadline: No deadline; apply through FHA-approved lender