The 203(k) loan program offers borrowers the resources to rehabilitate a home that may be in need of repair. One single
loan up to $410,000 is used to pay for the purchase of their primary residence and the cost of renovating the home. The cost of repairs must be at least $5,000, and cannot exceed $35,000.

Eligible properties:

•    Primary Residence.
•    Single family dwellings.
•    Condominium.
•    Townhouse.
•    1-4 Unit Buildings.

Allowable repairs include:

•    Repair/replacement of decks, patios and porches.
•    Elimination of health/safety hazards.
•    Plumbing, heating air conditioning, and electrical upgrades.
•    Roofing, gutters and downspouts.
•    Flooring, tiling and carpeting.
•    Energy conservation improvements, including windows and doors.
•    Exterior and interior painting.
•    Access for the disabled.

Repairs must be made by a licensed contractor.