FHA 203K
For people in search of a basic loan.
Up to FHA County Limits-96.5% of Future Renovated Appraised Value
203K Limited- For less expensive repairs/improvements.
203K Standard-For major rehabilitation or repairs.
Eligible Improvements Include but are not limited to
- Eliminating health and safety hazards that would violate FHA’s Minimum Property Requirements (MPR).
- Reconstructing a structure that has been or will be demolished provided the complete existing foundation system is not affected and will still be used.
- Repairing, reconstructing, or elevating an existing foundation where the structure will not be demolished.
- Making structural alterations such as the repair or replacement of structural damage, additions to the structure, and finished attics and/or basements.
*Depending on specific loan characteristics.