Mansfield Texas FHA 203K Renovation Loans l FHA 203K Loans Mansfield

Mortgage and Lending NMLS # 243437

Special Government Home Renovation Loan Program with Mansfield Texas FHA 203K Renovation Loans.

There is a special government loan program that is part of the Federal Housing Administration (FHA)- a department within HUD.

A home buyer or existing home owner can remodel or update their home without having a higher cost second lien thanks to this special FHA loan program.

Items such as a hot tub and a swimming pool are not allowed by this FHA loan program. Repaint, remodel cabinetry in kitchens and bathrooms, add wallpaper, replace appliances and flooring and even add a room to an existing structure (which will increase the value of the homes square footage).

There are many advantages with this government loan program but the biggest is the ability to have all of your acquisition or refinance loan costs together with your renovation loan in one low interest rate instead of two separate government loans that are always of higher interest rates.

This FHA loan program is called a 203K loan, as defined by the Federal Housing Administration. For more information, please visit the FHA website:

Lenders have to be approved by HUD in order to do this loan program. It is essential that you go with a lender that can offer in house underwriting and expertise instead of using a mortgage broker due to the intricacies of the loan program.  Using a broker can cause unnecessary delays in the process.

Two types of loan programs within the Mansfield Texas FHA 203K Renovation Loans exist. The first is what is called a streamline 203K loan. When using a 203K Streamline loan, there can't be any structural improvements and the dollar amount is generally lower (less than $35,000) for a 203K streamline loan.

Only basic cosmetic repairs are allowed with a Streamline 203K loan. These are items such as painting, plumbing, electrical, and flooring. A Full 203K loan is the second type of a 203K loan. With a Full 203K loan you can do structural improvements like adding another room or doing foundation work as well as the ability for the home owner to rehab or renovate their current property.

Envision new carpeting, paint, a remodeled kitchen or bathrooms and lighting when looking for your new home.  Now you can have the home of your dreams which will allow you much more flexibility in remodeling or in your home purchase.

To get more information on renovation or rehabilitation of your home using Mansfield Texas FHA 203K Renovation Loans and the surrounding areas please contact Joy Bates, Senior Mortgage Banker at 817-860-3232 or log on to to request more information.

Joy does loans all over the state of Texas. 

Posted by

The Legacy Group of CrossCountry Mortgage

Chad and Joy Bates NMLS #243437


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1205 West Abram St. 

Arlington, TX 76013


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