FHA 203(k) Rehabilitation Mortgage

About This Program

The FHA 203(k) loan allows homebuyers and existing owners to finance purchase (or refinance) plus renovation costs in a single mortgage. The Standard 203(k) covers major structural renovations; the Limited 203(k) covers non-structural projects under $35,000. Borrowers can finance up to 110% of the home's after-improved value with as little as 3.5% down.

Minimum 580 credit score; 3.5% down payment. FHA loan limits for Ramsey County: $524,225 standard. Renovation funds are held in escrow and disbursed as work is completed.

Key Details

• Finance home purchase + renovation in a single FHA-backed loan
• Standard 203(k) for major rehabs; Limited 203(k) under $35,000
• Minimum 3.5% down payment with 580+ credit score
• FHA loan limit for Ramsey County: ~$524,225 (2025)
• Available through FHA-approved lenders; HUD: 800-225-5342

How to Apply

Deadline: Rolling