• (858) 526-3037
  • Carl.Spiteri@originpoint.com
  • Mon - Fri: 9:00 - 6:30
Facebook-f Twitter Youtube

Make Your Home Your Dream Home with a 203K!

We have put together a guide to help you determine if a 203K Construction loan is right for you. Click the link below to download our free guide.

What is a 203K Construction Loan?

Through the Federal Housing Administration (FHA) 203(k) Rehabilitation program, borrowers can purchase or refinance a home and include repair costs with a single mortgage. A 203(k) loan has a lower down payment requirement compared to other rehabilitation options for financing, which puts rehab projects within reach for individuals who otherwise could not afford them. Borrower eligibility and credit qualifications for this product are the same as any other FHA loan, with the same FHA maximum mortgage limits applying. 30-year fixed rate options offered!

How can the 203K Construction Loan be used?

Expand your market reach to finance homes below property standards or buy a property in need of modernization and repairs. Help low to moderate income families, first-time homebuyers, or buyers with limited cash, to purchase a home with as little a low down payment options or refinance with 3.5% equity.

 

Credit score and down payment requirements higher for 2–4 unit, investment properties and renovation products.

Why use 203K Construction Loan?

With a 203(k) loan, the borrower may simply obtain one mortgage at a long-term fixed rate to finance both the acquisition and the rehabilitation of the property or to refinance current property. The 203(k) loan provides the funds for the rehabilitation of the property on both purchases or refinances of the existing properties. The 203(k) total loan amount is based on the projected value of the property with the work completed, including the cost of the rehabilitation.

  • Remodel the kitchen
  • Add Baths
  • Add square footage
  • Add a second story
  • Replace a roof
  • Re-side the home
  • Replace appliances
  • Re-paint inside and outside of the house
  • Put in new flooring
  • Build or replace a deck/patio/porch
  • Repair or replace the septic system​

Is the 203k Construction Loan Right For You?

203k Construction Loan has more flexibility. You can have Lower FICO Scores and Higher debt-to-income ratios. One of the most popular and diverse home improvement loans is the FHA 203k. You can make home improvements to the house you want, or the home you already own. Use the funds for simple upgrades to your home like a kitchen or bath improvement, or to completely reconstruct a home that is presently unlivable. You can even use a 203k Rehabilitation Loan to tear down most of an existing structure and build a new one using some portion of the existing foundation. You can borrow up to 100% of the appraised value – based on the value when the improvements or repairs are completed

Don’t know if the 203K Loan
is right for you?

Click Here To Contact Us Now!
Facebook-f Twitter Linkedin-in Youtube Instagram
Equal-Housing-Opportunity

OriginPoint Mortgage

11622 El Camino Real, Suite 100 San Diego, CA 92130

Carl Spiteri | NMLS ID 286890

Phone: 619.544.6444

Office: 858.526.3037

eFax: 800.670.0929

OriginPoint LLC. NMLS License #2185899

Carl Spiteri | NMLS ID 286890

Texas Consumers: How to file a complaint | Do Not Sell or Share My Personal Information and/or Limit the Use of My Sensitive Personal Information

Copyright © 2021-2025 OriginPoint LLC. All rights reserved.

NMLS License #2185899 – For licensing information, go to: www.nmlsconsumeraccess.org.
Arizona Mortgage Banker License #1038328
1800 W. Larchmont Avenue, Suite 305, Chicago, IL 60613, 855-997-6468

This site is not authorized by the New York State Department of Financial Services. No mortgage loan applications for properties located in New York will be accepted through this site.

Operating in the state of California as OriginPoint Mortgage LLC in lieu of the legal name OriginPoint LLC. If you are a California resident, please review our Privacy Policy to learn more about the categories and business purpose of personal information we may collect and your right to opt-out from the sale of personal information.

Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Compass, its affiliated brokerages and OriginPoint, LLC share common ownership and because of this relationship, the Compass affiliated brokerage may receive financial and other benefits. You are not required to use OriginPoint, LLC as a condition of purchase or sale of any real estate. Restrictions may apply, contact OriginPoint for current rates and for more information.

Compass, its affiliated brokerages and OriginPoint, LLC share common ownership and because of this relationship, the Compass affiliated brokerage may receive financial and other benefits. You are not required to use OriginPoint, LLC as a condition of purchase or sale of any real estate.