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FHA 203k Loan

FHA 203k Loan

The FHA 203k is a renovation loan program that provides funds for both the purchase and a refi renovation of a home. There are two types of an FHA 203k loan. The first is normal 203k, which is given for properties that need structural repairs such as a new roof or a room addition. The second is the streamlined203k, which is given for non-structural repairs such as painting and new appliances. The minimum Loan Amount is $5000.  There has to be at least a permit taken out on the property prior to financing for the home to qualify for a FHA 203k loan.

Owner Occupied Homes Only

A FHA 203k Loan can only be obtained on an owner occupied home, but does allow one to build up to 4 units on that property if it is zoned for it.

Is there a minimum fico score for a FHA 203k Loan”


Does the work/repairs have to be perfomred prior to close of escrow?

No it does not.  All the work can be preformed as long as it does not take longer than 6 months to complete.

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NMLS 1665027 CA DRE
Personal NMLS 282851

Equal Housing Lender


RC Advantage
698 Whiting St
Grass Valley, CA 95945