203K
203K Home Improvement Loans
What is the FHA 203K loan?
The 203K is HUD’s program for the rehabilitation and renovation of single family properties. This loan can be used for repairing a home you wish to purchase or one you already own by refinancing your property.
Streamline 203K
- Up to $35,000 in repairs.
- 50% of the funds available at closing, the other 50% after work has been completed.
Full 203K
- Repairs / improvements may exceed $35,000.
- Structural repairs may be completed under the full version.
- Up to 6 months to complete all repairs and 6 construction draws.
203K Loan Uses:
- Painting, new flooring, new appliances.
- New kitchen, roofing, windows, siding.
- New furnace, central air or water heater.
- Mold remediation and more!
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Current Average U.S. Mortgage Rates
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