203K LOANS

Turn a property that needs work into the home you’ve always wanted. An FHA 203(k) Loan can combine the financing for purchasing or refinancing a home with eligible renovation and rehabilitation costs into a single mortgage.

Whether you’re updating an older property, modernizing a kitchen, repairing structural issues, or transforming a fixer-upper, our mortgage specialists can help you explore the right 203(k) financing option.

Purchase Get Pre-Approved Or Refinance Rate Options

ABOUT 203K LOANS —

What Is an FHA 203K Loan?

An FHA 203(k) Loan is a rehabilitation mortgage designed to help you purchase or refinance a home and finance eligible repairs and improvements at the same time.

Instead of getting a separate loan for the home and then another for renovations, a 203(k) mortgage rolls the purchase (or refinance) and renovation costs into one loan with one monthly payment.

One Loan For Home +
Renovations

Finance Upgrades,
Repairs & Improvements

Renovated luxury kitchen representing an FHA 203K Loan

CHOOSE YOUR RENOVATION LEVEL —

Limited 203K vs. Standard 203K

LIMITED 203K

For Smaller Renovation Projects

Designed for minor remodeling and non-structural repairs to make your home move-in ready.

Up to $75,000 in rehabilitation costs*

No minimum rehabilitation cost

Minor / non-structural improvements

203(k) Consultant generally optional

Great for cosmetic updates & repairs

STANDARD 203K

For Major Rehabilitation

Designed for major rehabilitation and structural renovations to transform your home.

Minimum $5,000 in rehabilitation costs

Major and structural rehabilitation allowed

203(k) Consultant required

Renovation funds managed in draws

Subject to applicable FHA mortgage limits

Home framing structure representing Standard 203K major rehabilitation

*Limited 203(k) rehabilitation cost maximum increased to $75,000 for applicable FHA case numbers assigned on or after November 4, 2024.

WHO IS IT FOR? —

Is a 203K Loan Right for You?

Fixer-Upper Buyers

Found the perfect location but the home needs work. A 203(k) can help.

First-Time Homebuyers

Create a home that fits your needs while building equity from day one.

Current Homeowners

Refinance your home and finance eligible rehabilitation improvements.

Value Seekers

Look beyond cosmetic imperfections and unlock the true potential.

RENOVATE WITH CONFIDENCE

Your Home. Your Vision. One Financing Strategy.

We'll guide you through the 203(k) process so you can focus on creating the home you've always imagined.

Get Started Today

THE 203K LOAN PROCESS —

From Property to Possibility in 4 Simple Steps

Find Your Property

Find a home with potential that fits your budget and location.

Plan Your Improvements

Work with professionals to plan your eligible repairs and improvements.

Get Your 203K Financing

We review your plans, costs, appraisal & FHA guidelines to get you approved.

Renovate & Complete

Renovation work is completed in draws until your project is finished.

FREQUENTLY ASKED QUESTIONS —

203K Loan FAQs

What is a 203K loan? +

An FHA 203(k) loan is a government-backed mortgage that allows home buyers and homeowners to finance both the purchase (or refinance) of a house and its renovation costs through a single, primary mortgage payment.

Can I buy a home that needs major repairs? +

Yes, the Standard 203(k) loan program is specifically designed for properties needing structural repairs, major rehabilitation, room additions, or extensive remodeling.

Can I renovate the kitchen and bathroom? +

Absolutely. Kitchen updates, bathroom remodels, floor replacements, and cosmetic improvements are eligible under both the Limited and Standard 203(k) programs.

What is the difference between Limited and Standard 203K? +

The Limited 203(k) covers minor, non-structural repairs up to $75,000, while the Standard 203(k) covers major structural renovations with a $5,000 minimum and requires a licensed 203(k) consultant.

Can I use a 203K loan to refinance my existing home? +

Yes, current homeowners can use an FHA 203(k) refinance to combine their existing mortgage balance with the funding required for home repairs into one single mortgage loan.

How are renovation funds disbursed? +

Renovation funds are placed into an escrow account and released to contractors in scheduled draw payments as work passes required inspections.

How much can I finance for renovations? +

For Limited 203(k) loans, you can finance up to $75,000. For Standard 203(k) loans, total financing is based on the as-completed appraised value of the property up to local FHA loan limits.

Do I need a 203K Consultant? +

A certified HUD 203(k) consultant is mandatory for Standard 203(k) projects to inspect the work and write specifications, but generally optional for Limited 203(k) projects.

READY TO TRANSFORM YOUR PROPERTY?

Don't Just Buy a House. Create Your Home.

Let our experts help you finance and renovate the home you've always envisioned.

Get Your Free 203K Loan Quote

Purchase

Renovate

Refinance

Improve