What is a FHA 203K Loan?

FHA 203K Loans in Houston

In Houston and surrounding areas, when a home needs repairs, the FHA 203k loan offers a simple streamlined way for you to buy or refinance a home and renovate it. The 203k mortgage rolls together the home purchase or refinance with the funds needed to pay your contractor to fix, upgrade, modify, and make additions to your home accordingto your vision.

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FHA 203K Loan Quick Facts 

If repairs are over 30k, you must hire a HUD consultant to facilitate and inspect the construction progress.

 Personal Residence Only.

$5,000 minimum rehabilitation cost.

 All remodeling and repairs must be made by a licensed contractor.

What can you do with a FHA 203K Loan?

Here are some examples of types of improvements you can make with FHA 203k:

Paint a home’s interior and exterior.

Make repairs to plumbing.

Replace the roof of a home.


Remodel your kitchen.

Replace your carpets.

Add a garage.

Make a home more energy efficient.

Fix safety hazards in the home.

A wide spectrum of improvements are eligible for financing. During your consultation, we can let you know whether your planned improvements qualify for FHA 203k financing.

Does a FHA 203K have any Limitations?




Limitations of a FHA 203K

An FHA 203k is intended for practical uses. It is not for making luxury additions to a home (i.e. a swimming pool). For that, a HomeStyle Renovation loan is a suitable alternative. If however there is an existing swimming pool which needs to be repaired, an FHA 203k loan can be used for that purpose.

How much do you qualify for?

Other home loans include:

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