FHA 203k / Home Renovation

Purchase and Rehab with ONE loan and ONE closing

Also available for Refinancing of existing owner occupied Properties

Example of a 203K Streamline
Household improvement up to a maximum of $35,000. Home purchase with 3% Down

HUD has defined eligible renovation as:



· Repair/Replacement roofs, gutters, and downspouts

· Repair/Replacement/Upgrade of existing HV AC systems

· Repair/Replacement/Upgrade of plumbing and electrical systems

· Repair/Replacement of existing flooring

· Minor remodeling such as kitchens, which does not involve structural repairs

· Exterior and interior painting

· Weatherization: including storm windows and doors, insulation, weather stripping, etc.

· Appliances - Purchase and installation are included. Appliances may include free-standing ranges, refrigerators, washers/dryers, dishwashers, and microwaves

· Lead-based paint stabilization or abatement of lead-based paint hazards

· Repair/Replace/Add exterior decks, patios, porches

· Basement finishing and remodeling, which does not involve structural repairs

· Basement waterproofing

· Window and door replacements and exterior wall re-siding

· Septic system and/or well repair or replacement

· Improvements for accessibility for persons with disabilities

· For lead-based paint stabilization costs above and beyond that paid for by HUD when it sells real estate owned (REO)

HUD has defined Ineligible Renovation as:

· Major rehabilitation or major remodeling, such as the relocation of a load bearing wall

· New construction (including room additions)

· Repair of structural damage

· Repairs requiring detailed drawings or architectural exhibits

· Landscaping or similar site amenity improvements

· Any repair or improvement requiring a work schedule longer than six (6) months

· Rehabilitation activities that require more than two (2) payments per specialized contractor

Additional Types of Home Renovation Products



Fannie Mae Home Style


HUD 203K
Fannie Mae HomeStyle



Today's Rates

Mtg Loan Rate APR
30-yr Fixed 3.75% 3.79%
15-yr Fixed 3.22% 3.29%
1-yr Adj 3.46% 3.49%
* national averages