Anna, TX FHA 203K Renovation Loans

Mortgage and Lending with CrossCountry Mortgage NMLS # 243437

There is a Special Government Home Renovation Loan Program with AnnaTX FHA 203K Renovation Loans.

Many are not aware of a special government loan program that is actually a part of FHA (Federal Housing Administration- a department within HUD).

A buyer or existing home owner can do meaningful amounts of remodeling or updates to their existing home without having a higher cost second lien thanks to this special FHA loan program. Items like a hot tub and a swimming pool are not allowed by this FHA loan program.

You can repaint, remodel cabinetry in kitchens and bathrooms, replace appliances and flooring, add wallpaper, or even add a room to an existing structure (which will increase the value of your home because of more 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. There are two types of loan programs that are part of the AnnaTX FHA 203K Renovation Loans

The first is what is called a streamline 203K loan. With a Streamline 203K loan, there can't be any structural improvements and the dollar amount is generally lower for a 203K streamline loan. Only basic cosmetic repairs are allowed with a Streamline 203K loan. Items such as painting, plumbing, electrical, and flooring can be financed with this type of 203K loan.

The second type is a Full 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.

You can envision new carpeting, paint, a remodeled kitchen or bathrooms and lighting when looking for your new home and have the home of your dreams which may allow you much more flexibility in your home purchase or to remodel your existing home.

To get more information on renovation or rehabilitation of your home using AnnaTX FHA 203K Renovation Loans and the surrounding areas please contact Joy Bates, Senior Mortgage Banker at 888-860-3232;  or log onto  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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