203k Financing Features

203(k) Financing FeaturesOne popular loan program is the FHA 203(k) Renovation Loan. You can get up to $35,000 with a simple limited upgrade loan or finance large projects costing over $35,000, like room additions and major remodels, with our full renovation loan.Minimum 3.5% down paymentUp to 110% (100% on condos) of the after-improved value of the home used as basis for financing*Up to 6 months of mortgage payments (PITI) can be financed to help buyers avoid double mortgage payments** (Consultant K)Can be used for complete rebuild of home on original foundationCounty and high-balance loan limitsFixed and adjustable rates are available