FHA 203K (Rehab Mortgage Loan) Program

This loan program basically allows the home buyer to use FHA financing to buy and repair/rehab residential real property through pre-approved repair contractors.  Many stipulations exist but the program has worked well for many people get a home at a good value and fix it up.

Update 2-18-2012:  Two types of FHA 203K programs exist:

Streamline 203K (minor repairs from $5-35K) and Standard 203K (rehab major repairs to new or existing home)

Source:  http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/203k/203kmenu

Source:  http://www.ukiahdailyjournal.com/community/ci_19904109

Original post material:

Source: 203K Program

http://www.hud.gov/offices/adm/hudclips/forms/files/92700.pdf – 203(k) and Streamlined (k)
U.S. Department of Housing Maximum Mortgage Worksheet

HUD Mortgagee Letter 2005-50 – List of eligible work items/improvements

Helpful areas of information about 203K loans:



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