The FHA 203k is a renovation loan program that provides funds for both the purchase and renovation of a home.
There are two types of an FHA 203k loan:
- The first is the normal 203k, which is given for properties that are in need of structural repairs such as a new roof or room addition.
- The second is the streamlined 203k, which is given for non-structural repairs such as painting and new appliances. The minimum Loan Amount is $5000.
If you are looking at purchasing a home that is need of some repairs, or would like to refinance your current home and have some funds available to carry out some upgrades, then please give one of our Mortgage Loan Officers a call at 703-889-7669 – alternatively you can request a call by completing this short contact request form here.