FHA 203k Home Loans

203k_loansHUD’s program for the rehabilitation and renovation of single family properties.

What is the FHA 203K loan?

The 203K is HUD’s program for the rehabilitation and renovation of single family properties. This loan can be used for repairing a home you wish to purchase or one you already own by refinancing your property.

Streamline 203K

  • Up to $35,000 in repairs.
  • 50% of the funds available at closing, the other 50% after work has been completed.

Use it for:

  • Painting, new flooring, new appliances.
  • New kitchen, roofing, windows, siding.
  • New furnace, water heater, mold remediation, and more!

Contact us for a full list.

Full 203K

  • Repairs / improvements may exceed $35,000.
  • Structural repairs may be completed under the full version.
  • Up to 6 months to complete all repairs and 6 construction draws.

As construction financing has generally dried up, this remains a terrific option when considering doing improvements on your existing home.

The 203K can be a great option when buying a home that needs some repairs. Your next home improvement project or your new home can be a reality with the 203K. Contact us today. We are 203K experts!
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Call (248) 608-9120 to get your Mortgage rate today!