An FHA 203(k) loan is a government-backed mortgage that allows you to purchase or refinance a home and include renovation costs in one single loan.
203(k) loans can be used for structural repairs, kitchen and bathroom updates, flooring, roofing, plumbing, electrical work, and energy-efficient improvements.
203(k) loans are available to both first-time and repeat homebuyers who meet FHA credit, income, and property requirements.
The biggest advantage of a 203(k) loan is the ability to buy a home that needs repairs often at a lower price while financing renovations into the same mortgage.
One Loan for Purchase & Renovation
Finance the home and renovation costs together with a single mortgage and payment.
Low Down Payment
FHA 203(k) loans typically require a lower down payment compared to conventional renovation loans.
Flexible Credit Requirements
Designed to help more buyers qualify, including first-time homebuyers.
Buy Homes That Need Repairs
Turn fixer-uppers or distressed properties into move-in-ready homes.
Competitive Interest Rates
Often lower than personal loans or credit cards used for renovations.
Increase Property Value
Renovations can improve livability while boosting long-term home value.
