FHA 203(k) Renovation Loan

DreamLoan

The mother of fixer-upper loans.

You found a house that needs a little work. OK, maybe it needs a lot of work. Either way, the FHA 203(k) Loan allows you purchase and renovate the home using funds from the same mortgage. Pretty handy. You’re taking on a lot with this project. At least save yourself some headaches by getting one mortgage to finance the purchase and all that repair work. We’ll lock you into a competitive interest rate over a 30-year term.

Key Features:

  • Use one loan to finance the purchase and home renovation
  • You have six months to remodel/repair your house
  • Standard FHA guidelines are used to determine eligibility

Requirements:

Down Payment 3.5% of the final loan amount
Terms 30 years, fixed
Credit Score 640 minimum
Mortgage Insurance Yes
Maximum Loan Limit Yes, varies by county

Equal Housing Lender
PRMI NMLS: 3094. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply.
This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Florida Office of Financial Regulation MLD646.
Licensed by the Massachusetts Division of Banks as a Broker and Lender as #MC3094. Bureau of Financial Institutions: MC-2248 Broker MC-2248 NMLS # 3094. NMLS Consumer Access.
“Licensed by the New Hampshire Banking Department” 10706-MB. Branch Phone: 603-718-3184

Eric LaFleur MLO165839
NMLS #996610