- The FHA 203K Renovation loan allows a buyer to purchase (or refinance) and renovate a property with one loan and one closing.
- With one loan, there is only one application, one set of fees, one closing and one monthly payment.
- Improvements can include anything that adds value to the home, such as room addition, new carpeting, landscaping, plumbing, roofing or a new kitchen.
- The loan can also be used for energy-efficiency improvements.
- Zero interest never to be returned
- Available for Conventional and FHA loans
- Minimum Credit Score FHA 620 ; Conventional 640
- Maximum Debt to Income 45%. Subject to Underwriter approval.