Planning for a large scale project like major structural alterations, updating your kitchen, or conversion or repairs to your swimming pool? Get one step closer to breaking ground with an FHA 203K loan! Please see the program highlights below.
- Requires an FHA HUD consultant
- The minimum cost of repairs is $5,000 with no maximum -up to county limit
- The contingency reserve is approximately 10-20%
- Work must start within 30 days of closing and be completed within 180 days of closing
- Maximum 5 draws permitted
- Additional specialized contractor(s) allowed for technical items
- Finance up to 6 months PITI if home deemed uninhabitable
Make your next home improvement project a success with help from a lender you can trust. We will be with you every step of the way!