The FHA 203k loan is a renovation or construction loan, that is backed by the Federal Housing Administration. Both buyers and refinancing customers can combine the traditional “home improvement” loan with a standard FHA mortgage, which allows the homeowners to borrow their renovation costs.

The better we plan the smoother your renovation process. Before the first swing of a hammer, we carefully create your renovation timeline, submit all the required city permit applications and make sure you’re 100% satisfied with your design selections.

Coordinating purchases and deliveries can be cumbersome. Your dedicated Project Management team and designer work with our procurement specialist to ensure all fixtures and material arrive safely and on time.

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FAQs

Q: Some Common 203k Repairs

Remodeling of Kitchens & Bathrooms Stabilizing Lead-Based Paint if detected Installation of Roofs, Gutters, and Downspouts Installation or repair Exterior Decks, Patios, Porches Installation of New Windows, Doors and Siding Remediation of Health and Safety Issues (Mold) Installation or Repair of Plumbing, Well And/Or Septic System. Installation of Fencing, Walkways, Driveways, and Landscaping Installation of New Energy Efficient Heating Systems, and Electrical Service Upgrades Replace Missing Or Stolen Pipes

Q: Full 203k Loan Requirements

There Are No Limit On Repairs Any Structural Work Is Allowed A Minimum of $5,000 Borrowed For Repairs- A Maximum 110% After The Appraised Value A HUD Consultant Is Required

Q: Limited 203k Loan Requirements

A Minimum Borrowed of $5,000 for repairs A Maximum Borrowed of $35,000 for repairs- (this ends up to be around 30k for the renovation- for most lenders) There is a Limited On Some Types Of Repairs. (structural) A HUD Consultant Is Not Required But We Recommend It

FAQs

Some Common 203k Repairs

Full 203k Loan Requirements

Limited 203k Loan Requirements

What is a 203k Loan?

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