THE FHA 203(k) REHAB MORTGAGE PAGE
POSSIBLE USES FOR THE 203(k) MORTGAGE
- As a BUYER, to purchase a home and remodel it to suit your needs. Acceptable improvements are remodeling or addition of a kitchen or bath, an addition to the original structure (room addition), installation of new siding, roofing, furnace, electrical panel, water heater, central air conditioning, windows, landscaping, or finishing an unfinished basement. One of the more creative uses I've seen is where a homeowner raised a ranch home and converted the crawl space into a full basement.
- As a HOME OWNER, to refinance your existing home for home improvements. All of the improvements that are available to new buyers can also be utilized by homeowners in a re-finance.
- As a SELLER, for home improvements prior to selling in order to maximize the selling price of the home.
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203(k)-RELATED FHA MORTGAGEE LETTERS