Create the home of your dreams with the FHA 30 Year Fixed Rate 203(k) Rehabilitation Loan Program. Rehab loans help you improve your existing home or even buy a home that’s in need of updates or repairs. With this program, you can finance both the purchase or refinance along with the renovation of your home through a single mortgage, instead of applying for multiple loans.
Minimum credit score is 620 for all borrowers
Maximum 55% DTI for credit scores >680
Maximum 50% DTI for credit scores 640-679
Maximum 43% DTI for credit scores 620-639
An FHA 203(k) consultant is required
No funds are disbursed in advance
Up to 5 disbursements can be made
No maximum rehabilitation escrow amount
Funds are disbursed to the contactor as work is completed and inspected
Just fill out the quick form below and we’ll take it from there.
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