The 203k Rehabilitation Loan program offers borrowers the resources to rehabilitate a home that may be in need of repair, either the home that they currently live in, or that special fixer-upper opportunity. One single loan is used to pay for the purchase or refinance and the cost of renovating the home.

The U.S. Department of Housing and Urban Development (HUD), FHA 203K Renovation Loan program has already provided many buyers with the funds necessary to buy their first home, buy a home with the extra room they need for their family or even greatly improve a current home. The FHA 203K Renovation loan is available to borrowers of all income levels, to homeowners who plan to occupy the house, and for homes with one to four units.

203K Renovation Loan Eligible Borrowers
1. Owner Occupants - Purchase - Refinance
2. Non- Profits
3. Investors NOT allowed

Types of 203K Renovation Loans
1. 30 or 15 year fixed rates
2. One year ARMS

203k Renovation Loan Eligible Properties
1. Single family dwellings
2. Condominium
3. Townhouse
4. Mixed Use (Storefront)
5. 1-4 Unit buildings- you can increase or decrease the number of units with this loan.