The Section 203(k) program is the FHA's primary program for the rehabilitation and repair of single family properties. As such, it is an important tool for community and neighborhood revitalization and for expanding homeownership opportunities. Since these are the primary goals of HUD, the Department believes that Section 203(k) is an important program and continues to strongly support the program and the lenders that participate in it.

Customize Your Home
Customize your home the way you've always wanted it. Get your kitchen up to date with the latest appliances and color scheme. Finish the attic or basement to get the most value out of your house. If the home improvement increases the value, it's part of the loan.

Up to $35,000 DIY Improvements
If you're handy with the hammer, you can receive up to $35,000. Eligible improvements are for which plans, consultants, engineers and/or architects are not required.

Build an Investment
Turn a 1-unit house into a multi-unit house. the FHA 203k Loan allows for multi-unit improvements that allow your home to pay for itself.

3% Down Payment
Purchase a home with as little as 3% down of the "as is" value.

Finance 110% of Home's Value
When financing the improvements, up to 110% of the "as completed" appraised value can be used.

Your Investment Is Protected
A Improvement Specialist ensures a quality process, including draws and inspections. Improvements are setup with staged funding.