FHA 203(k)

If you’re considering a home in need of repair, there are many renovation products to choose from. With FHA 203(k) loans, you can fund both the home purchase and renovations under one mortgage.


There are two types of FHA 203(k) loans: Streamline (also known as Limited) or Standard. Scroll through this page to check out the differences between the two, and when you’re ready to take the next step, search for a loan officer or branch near you.



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FHA Standard

FHA 203(k) Standard:

  • Minimum Repair Amount: $5,000
  • No Maximum Repair Amount
  • Renovation Duration: 6 Months from Closing
  • Swimming Pool Construction
    • Repairs or removal of an existing inground pool is allowed
  • Structural & Non-Structural Repair

FHA 203(k) Limited:

  • No Minimum Repair Amount
  • Maximum Repair Amount: $35,000 including rehabilitation fees
  • Renovation Duration: 6 Months from Closing
  • Swimming Pool Construction
    • Repairs or removal of an existing inground pool is allowed
  • Non-Structural Repair Only


  • Improving curb appeal or home’s appearance
  • Installing or repairing roofing or flooring
  • Fixing health and safety hazards
  • Fixing plumbing/waste systems
  • Improving accessibility or functionality
  • Landscaping & groundwork
  • Repairs to gutters or ground spouts


  • Lower down payment and credit score requirements
  • Temporary housing can be provided while repairs take place
  • Competitive interest rates



  • Attached or detached single-family residences
  • Condos
  • Planned Unit Developments (PUDs)
  • 2-4 unit properties
  • Manufactured homes


  • Primary Only



  • First-Time Homebuyer
  • Purchase
  • Refinance
  • Renovation

What Our Customers Are Saying


What Our Customers Are Saying


Everyone we came across at the company made our process a lot less stressful. They answered all our questions and made sure we handed everything that needed to be handed in on time. Thanks!

Paul K. / Homebuyer, NJ

We highly recommend Family First as they are an amazing team, efficient, honest and always available! Not only would I recommend Family First to my clients, I do use them for our family's mortgage needs!

Lisa C. / Real Estate Agent, FL

Great service, very professional. Highly recommended!

Christofer V. / Homebuyer, TX

Expertise, open communication at all times, and complete confidence knowing that my Buyer was wonderfully serviced and their loan would close!

Laure M. / Real Estate Agent, NJ

It was a smooth process from start to finish and I appreciate the time each of them took to answer any questions I may have had with respect to the process, the paperwork, etc. They were all incredibly kind, helpful, and responsive no matter how small the question may have been, and as a first time homebuyer I am very grateful for that.

Jessica S. / Homebuyer, NJ
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