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Guidelines for FHA Home Improvement
Refinance Loans
The FHA 203(k) program
is the FHA's program for the
rehabilitation and repair of
single family properties. It
is an important tool for community
and neighborhood revitalization
and for expanding homeownership
opportunities. Since these are
the primary goals of HUD, the
Department believes that
Section 203(k) is an important
program and we intend to continue
to strongly support the program
and the lenders that participate
in it.
Many lenders have successfully
used the FHA Section 203(k)
program in partnership with
state and local housing agencies
and nonprofit organizations
to rehabilitate properties.
These lenders, along with state
and local government agencies,
have found ways to combine
Section 203(k) with other
financial resources, such as
HUD's HOME, HOPE, and
Community Development Block
Grant Programs, to assist borrowers.
Several state housing finance
agencies have designed programs,
specifically for use with
Section 203(k) and some
lenders have also used the expertise
of local housing agencies and
nonprofit organizations to help
manage the rehabilitation processing.
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FHA Loan Information
The FHA does
not lend money. The FHA
(Federal Housing Administration)
is part of HUD &
backs individual Approved
Lenders.
Note:
We are not affiliated with the
Federal Housing Administration,
the Department of Housing and
Urban Development, or any other
government agency. We are an
FHA Educational Resource.
Our goal is to help you
find the best FHA Approved
Lender who can help you
secure home financing.
When you
fill in our short application
we will provide your information
to one, (and only one!)
FHA Approved Lender
who can help you based upon
many factors, including your
Credit Score, your
State Location, and the
Type of Loan you apply
for
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more
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