The FHA 203k program helps FHA home buyers finance desired and required repairs or renovations into their FHA home.

An FHA 203k loan allows an FHA home buyer to close on their home purchase first.  Then, repairs are completed afterward.

FHA 203k Uses

List of eligible FHA 203k repairs – Learn more

Max FHA 203k Loan

FHA 203k loans allow an Arizona FHA buyer to finance up to 50% of their home’s future improved value (value after repairs/renovations are complete) up to a total of $150,000 in repair costs.  Max loan amount is subject to County FHA Maximum limits.

FHA 203K Minimum Down Payment

The down payment on an FHA 203k purchase is a 2 step calculation:

Down Payment Calculation:
Step 1: Purchase Price + Cost of Repairs + Contingency = Total Cost to Borrower
Step 2: Total Cost to Borrower x 3.5% Minimum Down Payment Required 

Max Time to Complete Repairs

An FHA 203k loan allows up to 120 days for repairs to be completed.  This time clock begins as soon as the FHA loan funds (both for refinances and purchases).  Exceptions to the 120 day rule granted on a case by case basis.

Other Renovation Loans

HomeStyle Reno Loan
Build or Repair a Pool Reno Loan

VA Escrow Holdback
FHA Escrow Holdback
USDA Escrow Holdback

Other FHA Resources

FHA Loan Overview
FHA Property Requirements
FHA Escrow Holdback
FHA Mortgage Insurance
FHA Streamline Refinance

Contact The HOUSE Team to learn more about how an FHA 203k program can help you manage repairs and renovations to your home.

Team Phone:  602.435.2149
Team Email:


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