- Total renovation costs not to exceed $75,000
- Renovation period must not exceed 6 months
- 1-4 Single family structure and planned unit developments (PUDs) are eligible
- Must be for a purchase or limited cash-out of a primary residence
FHA 203(k) Limited Renovation
A Mortgage With Renovation In Mind
Enhance your home from the start with a limited fund that adds home improvement costs into your new mortgage.
FHA 203(k) Limited Renovation Program
The FHA 203(k) Limited Renovation program assists homebuyers in purchasing a primary residence with funds for home renovations included in their mortgage, and also helps existing homeowners with a limited cash-out refinance to add renovations costs into their new mortgage.
These renovation funds can be used for various home improvements, such as enhancing functionality, modernizing the home, making energy-efficient upgrades, installing fences or driveways, and repairing pools, among many other options.
These renovation funds can be used for various home improvements, such as enhancing functionality, modernizing the home, making energy-efficient upgrades, installing fences or driveways, and repairing pools, among many other options.
Program Highlights
Program Highlights
The Process for Homebuyers
The Process for Homebuyers
- Once the homebuyer is under contract, they must provide the renovation bid to their Mortgage Banker.
- SouthState will process, underwrite, and close the loan. We will also fund the transaction.
- SouthState will submit the loan and renovation plans to FHA for endorsement.
- Your renovation project kicks off!
Have More Questions?
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Important Legal Disclosures and Information
- All loans subject to credit approval.
