Rehabilitation Loans

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203K Standard

The FHA 203k is a renovation loan program that provides funds for both the purchase and renovation of a home. There are two types of an FHA 203k loan. The first is Full 203k, which is given for properties that need structural repairs, these include:

• Structural alterations and additions to structure
• Major remodeling
• Foundation issues
• Modernization and improvements to the home’s function
• Elimination of health and safety hazards (electrical and plumbing upgrades)
• Major landscape work and site improvement
• Rebuilding a home that has or will be demolished, provided the foundation will remain intact 

And many more items can be included. 
Loan maximum is equal to the FHA county loan limit.

203K Limited

The second is the 203K Limited renovation loan, which is given for non-structural repairs up to $30,000 such as:

• Window and door replacement
• Plumbing and electrical repairs
• Minor remodeling
• Replace appliances

And much, much more......

Home-Style

​Fannie Mae's conventional loan version of an FHA 203k renovation loan can help finance one or more major renovation projects. Some key features of this loan type are:

• Renovation funding up to 50% of the homes post renovation appraised value
• Lower Closing Costs
• Can be used on a variety of property types such as 2nd homes and investment properties.