FHA 203K Renovation Loans &
Conventional Home Style Renovation Loans
are available for Purchase and Refinance
What is An FHA 203K RENOVATION
FHA program for existing single family
homes which allows for repair or renovation
for existing homes in two formats.
‾ Standard 203(k) for major renovation.
‾ Streamline 203(k) for limited repairs.
Conventional Home Style Renovation
https://www.fanniemae.com/content/fact_sheet/homestyle-renovation-factsheet.pdf
- Max loan including renovations $417,000
- 20% down is on total purchase price + renovations
- Renovation can be Up to 50% of purchase price
- Renovation should be completed within 6 months
- Renovation must add value to home
- will require 2 appraisals
As is now
and as will be with upgrades
Contact Racheli 954-800-0330 for more information on Home Renovation Loans
