How a 203(k) Renovation Loan Can Help New and Existing Homeowners
- Remodel a kitchen or bath
- Add a family room or extra bedroom
- Make needed electrical or plumbing repairs
- Replace a leaky roof
- Make energy or conservation improvements
- Repair a decaying foundation
- Move a home to another site and remodel it
- Convert a one-family home into a two-family home
- Improve handicap access
- Refinance options are also available with this loan
Eligible Properties
- One two four unit family dwellings
- Owner occupied
- Minimum of $5,000 in permanent non-cosmetic repairs must be done to qualify
- Property or foundation must have been in existence for at least one year