203k Home Renovation Loans

If you are planning to purchase a fixer-upper or perhaps you want to make improvements to your existing home, an FHA 203k rehab loan could be right for you. By combining the funds needed for rehabilitation with the funds for the mortgage, an FHA 203k loan affords you the necessary money to buy a home and make the chosen repairs and/or improvements.

Acceptable improvements include:

  • Structural alterations or reconstruction (e.g., repair or replacement of structural damage, chimney repair, additions to the structure, installation of an additional bath(s), finished attics and/or basements, removal of interior walls etc.).
  • Changes for improved functions and modernization (e.g., remodeled bathrooms and kitchens).
  • Elimination of health and safety hazards
  • Change in aesthetic appeal (e.g., new exterior siding, covered porch, stair railings, attached carport).
  • Reconditioning or replacement of plumbing, heating or air conditioning (including connecting to public water and/or sewer system).
  • Installation of well and/or septic system
  • Roofing, gutters and downspouts
  • Flooring, tiling and carpeting
  • Painting
  • Energy conservation improvements (e.g., new double pane windows, steel insulated exterior doors, insulation, caulking and weather stripping, etc.).
  • Major landscape work and site improvement (e.g., patios, decks and terraces, tree removal, fencing, new driveway etc.).
  • Improvements for accessibility to a disabled person (e.g., remodeling kitchens and baths for wheelchair access, lowering kitchen cabinets, installing wider doors and exterior ramps, etc.).