FHA 203K Renovation & Multi-Unit Building Program

Get renovations rolled into your loan with a low 3.5% down payment. 

This loan program is available for individual fixer upper home purchases or on 2-4 unit buildings where you plan to live onsite in 1 unit as your primary home.

The FHA 203K loan is a first time home buyer renovation loan that lets you purchase homes or up to 4 unit buildings in need of repair and updates. It can include cosmetic work, mechanical systems upgrades and even structural modifications. There is an easy process to getting up to $35,000 for renovations and updates built into the normal purchase amount of the home. There is also a more advanced application and eligibility process for more intensive renovations. 

The loan has an easy application process called the Streamline that works for light renovations:

  • A 3.5% Down Payment lets you borrow the purchase price of the home + up to $35,000 in renovation funds
  • Improvements must be completed in 6 months. Your contractors are paid out of an account as work is completed
  • There are other terms & conditions that must be met on the property regarding its appraised value after work is completed
  • Feel free to ask questions! We use this loan often and are happy to share guidance. Ask a Question.


It starts with an FHA 203k Agent

We're a great free resource for those interested in a fixer upper or multi-unit property. We offer direct appointments and a Free Workshops program to get you started!

You will need contractors who are familiar with the FHA 203K paperwork process and a lender and real estate agent to oversee the entire process. If you're curious about this program and want to get started, there are several ways to get help online and in-person:

Start with one of our Free Home Buyer Workshops on the topic. Don't be afraid to ask even the simplest question online. You can also Pre-Enroll for express assistance to check your eligibility and find out how much you can afford to finance - without a credit check!

Free Home Buyer Workshops are held Tuesdays at 6pm & Saturdays at 10am at our DC offices.

Get Private Help!

If these dates don't work for you, we can give you a free FHA 203K orientation via phone or in-person, or you can Ask A Question online. Also, the presenters at our normal First Time Home Workshops also cover FHA 203K as a purchasing option. Just come on in & let us know that is the program you have questions about. Calendar follows:

Free Home Buyer Workshops are held Tuesdays at 6pm & Saturdays at 10am at our DC offices.

Get Private Help!

Fixer Upper Home Search

Our Free search for DC/MD/VA shows you up-to-the-minute homes that are great targets for 203K purchase/renovation!

Multi-Unit Buildings

FHA 203K Financing gives you the edge over experienced investor buyers in buying 2-4 unit buildings. Be Your Own Landlord!