A 203(k) renovation loan lets you finance the purchase price and the cost of repairs together, in one mortgage — so a fixer-upper can become the home you actually want.
Share a few details and our team can walk you through your 203K renovation options.
Prefer to talk now? 954-590-8464A 203(k) loan is an FHA-insured renovation mortgage. Instead of buying a home and then finding separate financing for repairs, you borrow against the home's value after the improvements are finished — so the purchase and the renovation are covered by one closing.
That makes it the practical route to a fixer-upper that would not pass a standard appraisal, or to a home you love that simply needs a new kitchen, roof, or layout change before it works for you.
A 203(k) loan turns a house that needs work into a home you can finance today.
Finance the purchase and the renovation together instead of stacking a second loan on top.
The Limited 203(k) covers minor, non-structural repairs — no 203(k) consultant required.
Standard 203(k) handles structural changes, additions, and full renovations of $5,000 or more.
FHA-backed financing keeps the down payment low — and it applies to the repair costs too.
A reserve is set aside in escrow so an unexpected repair does not stall the project.
We help scope the work, line up the paperwork, and keep the draw schedule on track.
These are typical 203K guidelines. Your exact scenario is reviewed one-on-one by a specialist.
FHA guidelines allow a 580 score with 3.5% down; below 580 the down payment requirement rises to 10%.
From 3.5% of the total loan — which includes the purchase price plus the cost of the repairs.
Generally up to 43%, with flexibility toward 50% when compensating factors are present.
Standard 203(k) requires at least $5,000 of work. The Limited version has no minimum.
FHA loans are for homes you plan to live in — not investment properties.
Work is done by a licensed, approved contractor and funded through draws as stages are completed.
Complete one application and tell us about your goals and timeline.
We review your file, check 203K guidelines, and lock your rate.
We handle the details with your agent and title team — keys in hand.
Limited 203(k) covers minor, non-structural repairs up to $75,000 with no minimum, and does not require a 203(k) consultant. Standard 203(k) is for major rehabilitation — structural work, additions, full renovation — with a minimum of $5,000 and a consultant who oversees the project.
Yes — that is exactly what it is built for. You finance the purchase and the repairs in one loan, so a home that would not pass a standard appraisal or that needs real work can still be bought and renovated.
The Limited 203(k) allows total rehabilitation costs up to $75,000. The Standard 203(k) has a $5,000 minimum with no fixed maximum repair limit — the total loan must still fall within FHA loan limits for the area.
Submitting the contact form does not trigger a credit inquiry. If a credit pull is needed, we explain the process and get your permission first.
Talk to an Eagles Funding Group specialist about your 203K options — we'll guide you from application to keys.
