All 203k Products


  • 15 & 30 year terms
  • Primary residences/owner occupied (per HUD guidelines)
  • 1-4 units
  • Standard FHA county loan limits apply
  • Follows standard FHA guidelines
  • Purchase down payment 3.50% of total loan amount (acquisition + total repair)
  • Refinance borrower investment 2.25% of total loan amount (payoff + total repairs) may finance required investment, closing costs, and pre-paid items if the borrower has sufficiently equity.
  • 203k is an FHA loan - Standard LTV requirements apply
  • 96.5% LLTV for purchase transactions (acquisitions + total repair)

FHA Limited 203k

  • Minimum 620 credit score
  • No minimum, $35,000 max total rehab costs (Up to the maximum county loan amount)
  • Great for cosmetic improvement up to 3 independent contractors allowed - must be selected by borrower


FHA Standard 203k

  • Minimum 640 credit score
  • $5,000 minimum total rehab costs (Up to the maximum county loan amount)
  • Good for large renovation projects
  • HUD consultant required
  • 1 general contractor allowed - Borrower must select their own contractor
  • May finance up to 6 months full PI TI if home uninhabitable

This is not a commitment to lend. Prices and guidelines are subject to change without notice. Some products may not be available in all states. Subject to review of credit and/or collateral; not all applicants will qualify for financing. It is important to make an informed decision when selecting and using a loan product; make sure to compare loan types when making a financial decision. REV: 12.21.2015 © 2015 Finance of America Mortgage LLC | Equal Opportunity Housing Lender | NMLS 1071 Mortgage Banker License #0910184 | Licensed by the Department of Business Residential Mortgage Licensee | Illinois Residential Mortgage Licensee | Kansas Licensed Mortgage Company | Licensed by the Mississippi Department of Banking and Consumer Finance | Licensed by the New Hampshire Banking Department | Licensed by the N.J. Department of Banking and Insurance | Licensed Mortgage Banker -- NYS Banking Department | Rhode Island Licensed Lender