Loan Options

Rehab Loan (203k)

Finance your home purchase and renovation costs in one single mortgage. Turn any fixer-upper into your dream home.

Buy & Renovate

One Loan for Purchase and Renovation

The FHA 203(k) Rehabilitation Loan combines the purchase price of a home with the cost of renovations into a single mortgage. This eliminates the need for a separate construction loan or high-interest home improvement loans.

South Florida has many properties that need updating or renovation, and the 203k loan lets buyers turn these opportunities into their dream home while building immediate equity. It's ideal for buyers who want to buy in great locations but can't afford move-in-ready prices.

Purchase + renovation in one loan

Down payment as low as 3.5%

Covers structural & cosmetic repairs

Instant equity potential

Customize the home to your needs

Single closing saves time and money

Who Qualifies?

Credit score 580+ (FHA guidelines apply)
Minimum $5,000 in renovation costs required
Primary residence only
HUD-approved consultant required for standard 203k
Renovation must be completed within 6 months

FAQ

Common Questions

What types of renovations can be financed with a 203k loan?+

The Standard 203k covers major renovations including structural repairs, room additions, and complete remodels. The Limited 203k (formerly Streamline) covers non-structural repairs up to $35,000 with a simpler process.

How long does the 203k loan process take?+

The 203k loan process typically takes 60-90 days from application to closing due to the additional appraisal and consultant requirements. However, it's worth the time — you're financing your purchase and renovation together.

Do I choose my own contractor?+

Yes, you choose your own licensed, bonded contractor. The contractor must be approved by the lender and provide a detailed work plan and cost estimate before closing.

Transform Your Fixer-Upper Today

Buy and renovate with one simple loan. Let's explore your options.

Get Pre-Qualified Now