FHA 203K

FHA 203K Rehabilitation Loan – 3.5% down

FHA 203K is the Housing and Urban Development (HUD) loan program that provides for the purchase or refinance of a property as well as the rehabilitation of a property. FHA 203K is designed for major renovations above $35,000, while the FHA 203K Streamline covers minor renovation of $35,000or less. It takes into account the After Repair Value (ARV) of the property to determine the loan amount.

- Up to 96.5% LTV
- FHA Guidelines apply: 620 Min FICO; Primary Residence; Full Appraisal Required, Etc.


• Must be 18 years or older
• U.S. Citizens
• Green Card Holders (non U.S. Citizen)
• H-1B Visa & EAD Card Holders (non U.S. Citizen)



  • 1-4 unit home that has been completed at least 1 year prior

  • Condominium

  • Townhouse

  • Mixed use residential that includes commercial space

  • Conversion of a 1 unit home into a 2-4 family unit

  • Existing modular unit that can be moved onto the newly mortgaged property

  • Home that have been demolished or will be raised as part of rehabilitation if some of existing foundation remains in place


  • Kitchen including appliances

  • bathroom including appliances

  • Roof, gutters, or downspouts repair or replacement

  • Room additions

  • Replace flooring (carpet, tile, laminate flooring and linoleum)

  • Add additional story

  • Attic Conversion

  • Basement Conversation

  • Expand or build a garage or carport

  • Chimney repair

  • Termite and dry rot damage

  • Structural problem (foundation,, driveway, sidewalk repair)

  • Upgrade plumbing

  • Upgrade A/C

  • Electrical system repair

  • Lead based paint removal

  • Make home accessible to the disabled

  • Install or replace well or septic tank

  • Add porch, deck or patio (must be attached)

  • Install energy efficient windows and doors

  • Repair an existing swimming pool

  • Solve lead based paint issues

  • Painting and siding

  • Energy Efficiency Upgrades

CANNOT be used toward for: Commercial use
● Tennis courts
● Gazebos
● New swimming pools (can repair existing pool)

NOTE: You can add a porch, deck, or patio as long as it is attached to the property


1. Prequalified based on income and credit
2. Select property
3. Feasibility study performed by assigned consultant
4. Work write
5. Appraisal performed
6. Loan approved by underwriting
7. Loan closes
8. Rehab account created and funds are disbursed a work is completed and inspected
9. Rehab is completed


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