Who Qualifies for the FHA 203k Program?

Mortgage and Lending with AnnieMac Home Mortgage NMLS #38670

For whatever reason, you have heard of the FHA 203k and are intrigued by its great potential to build the house of your dreams. The question is though, are you qualified for this renovation loan? Will you be able to take advantage of all of the great things it has to offer?



Here are some of the FHA 203k borrower qualifications:


  • You must be looking to buy and renovate a primary residence as an owner occupant* or renovate your existing home.
  • You do not have to be a first time homebuyer. Both purchases and refinances qualify
  • While HUD does allow some non-profit groups to qualify, many lenders do not offer those loans
  • Borrowers may have higher debt to income ratios (DTI) and credit scores down to 640 and sometimes below





* The FHA 203k program permits a non-occupant co-borrower


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Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

Hi Jeff, thanks for going over the qualifications for us and most importantly sharing with us in AR Land.

Jun 24, 2014 03:57 AM #1
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

The 203k loan is an under-utilized tool. Many buyers could create equity by using the FHA/203k loan to buy and renovate homes that need some work.

Aug 10, 2017 09:28 PM #2
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Jeff Onofrio

FHA 203k Lender and Homestyle Reno Specialist
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