Finance home repairs or remodels at closing

with an FHA 203(k) Loan

Are you looking at a house with “good bones” but it needs a lot of work? The FHA 203(k) loan program provides funds for renovations and repairs of your primary residence by financing the after-improved value rather than the present value of the home¹. Qualified borrowers receive a single loan with one closing!

  • Finance 100% of weatherization/energy efficient improvements²
  • Finance construction costs with a single closing
  • You chose the contractor (must meet lender approval qualifications)
  • A wide variety of repairs can be included, roofs, kitchen/bath remodels, flooring, paint, room additions, handicap accessibility, new appliances, plumbing/electrical repairs and lead-based paint abatements³
  1. FHA Limited 203(k) loan limited to $35,000 for repairs or renovation. FHA Standard 203(k) repair amount is based on the purchase price plus repairs or 110% of the after-approved value, whichever is less. Must include fees, contingency reserve and repairs.
  2. Up to an additional $8,000 may be available. Energy Efficient Mortgage Program improvements must reduce energy expense of a home to qualify. Examples of qualifying improvements include central heating/cooling, replacing wall heating units, test and seal ductwork, dual pane or Low-E windows and sliding doors, exterior doors and sunscreens, attic and wall insulation and water heater replacement.
  3. Structural repairs or improvement qualify on the FHA Standard 203(k) program only.

Call us today to get started!


Kris Czelusniak
Kris Czelusniak