Get Home Makeovers Funded Fast With FHA 203k Loans
Eligibility and Benefits
To qualify for an FHA 203k loan, you must meet certain criteria, including a minimum credit score of 580 and a debt-to-income ratio of no more than 43%. These loans are available for both existing homeowners and those purchasing a new home, providing flexibility in how you approach your renovation project. The primary benefit of an FHA 203k loan is the ability to finance both the purchase and renovation of a home with a single loan, often resulting in lower monthly payments and interest rates compared to taking out separate loans1.