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203k Rehab Loans

These programs are specifically designed for those who wish to repair, improve, or upgrade an owner-occupied home they own or would like to buy.

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About the FHA 203(K)

The FHA 203(k) allows homeowners to finance rehab costs within a single mortgage – rather than having to obtain a separate loan to finance the cost of repairs or walking away from a home because you don’t have the cash for home improvements.
We currently offer this owner-occupied financing on one-unit properties, two-unit properties.

Beautiful Luxury Home Exterior. Modern house

Standard 203(K)

The Standard 203(k) may be used to purchase or refinance a home that needs remodeling and/or structural repairs. There is a minimum rehabilitation cost of $5,000 and the use of a 203(k) consultant is required.

Max completion time: 180 days (6 months)

Landscaping and hardscaping allowed

$5K minimum and no max repair amount

Structural changes are allowed

Limited 203(K)

The Limited 203(k) maybe be used to purchase or refinance a home that needs minor remodeling and non-structural repairs not exceeding $35,000. The use of a 203(k) consultant is not required and there is no minimum rehabilitation cost.

Minor remodeling

HUD consultant is not required

Max completion time: 90 days (3 months)

No min and up to $35K in total renovations

Jessica Ellis

Loan Originator NMLS #: 2357124 Continue Reading Jessica Ellis

Lori H

I’ve had the best experience for being a first time homebuyer,everyone was beyond helpful and explained all the steps in detail to someone with zero knowledge of the home buying process.

David A

My City was fantastic to work with. They were extremely knowledgeable and answered all questions quickly.

– via Surefire survey

We will get you across the finish line.

Our clients value our insight and extensive experience. Through careful consideration of household needs, finances, and history—we help you understand the loan process from beginning to end. Our team of professionals can help review and explain mortgage options that are right for you with our efficient technology-driven process.

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My City Mortgage – NMLS # 1978621
A division of Hometown Lenders, Inc. – NMLS # 65084

ADVERTISEMENT: 1-888-628-1414 A division of Hometown Lenders, Inc. an Equal Housing Lender NMLS 65084 (www.nmlsconsumeraccess.org) Terms, conditions, and restrictions may apply. Loan Products are subject to availability and credit approval. Not a commitment to extend credit. Hometown Lenders USA AZ BK-0938291. Licensed by the CA DFPI 41DFPI60614.

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