Spring Cleaning Is Right Around the Corner—Start Fresh with an FHA 203(k) Loan

February 28, 2025

Spring is the season of renewal, making it the perfect time to find a home with potential and turn it into your dream space. If you’re considering buying a fixer-upper, an FHA 203(k) loan can help you finance both the purchase and necessary renovations in one simple loan.

What is an FHA 203(k) Loan?

An FHA 203(k) loan allows homebuyers to roll the cost of a home purchase and renovations into a single mortgage, making it easier to transform a house in need of updates into a beautiful, functional home.

Bonus update: The Limited 203(k) loan now allows for up to $75,000 in renovations—more than double the previous limit of $35,000—giving you even more flexibility to create the home you’ve envisioned!

Benefits of a 203(k) Loan:

• Finance both the purchase and renovations in one loan
• Competitive interest rates
• Flexible credit qualifying
• Improve home functionality and safety
• Upgrade outdated systems
• Available for purchases and refinances (rate and term only)

How It Works:

• Determine eligibility and loan amount
• Choose qualified renovations that meet FHA guidelines
• Work with approved contractors
• Complete renovations within the required timeframe

As you prepare for spring cleaning, why not start fresh in a home that truly fits your vision?

📞 Reach out today to check eligibility, or start your pre-approval process now!

Categories: Choosing a Loan, FHA Loans, Home Loan Information, Loans