76-6190 Plumeria Road Kailua Kona, HI 96740

Doug Mallardi, Loan Originator: (808) 333-4341

FHA 203k Loan

FHA 203k Loan

What Is A FHA 203k Loan?

girls celebrating their renovation project

What can a 203k loan do for you?

The FHA 203K is a renovation loan program that provides funds for the purchase and renovation of a primary residence. The FHA 203K program can also be used to refinance and renovate a current primary residence. There are two types of FHA 203K Loans, the Standard and the Limited. The Standard FHA 203K may be used to complete structural repairs including the adding of an addition. There is no repair maximum repair amount but the maximum loan amount cannot exceed the county loan limit. The Limited FHA 203K is for minor remodeling and non-structural repairs, such as painting or creating accessibility for persons with disabilities. The maximum total renovation cost, including renovation soft costs and financed contingency reserves, is $35,000.

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Big Island Mortgages by Doug Mallardi
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76-6190 Plumeria Road
Kailua Kona, HI 96740

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Douglas Mallardi, Loan Originator NMLS#1612621

E Mortgage Capital NMLS #1416824

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