})(); 203K Rehab Loans, Home Rehabilitation Loans - ALCOVA Mortgage
Nice colonial style home
Nice colonial style home

203K Rehab Loans

“I found a home that requires a few renovations.”

  • 5% minimum down payment
  • Fixed rate loans for primary home purchases where the property requires improvements
  • Up to $35,000 worth of home repairs or improvements
  • Pick your own contractors
  • Wide variety of repairs covered including roofs, kitchen/bath remodels, flooring, paint, new appliances, plumbing/electrical repairs, and lead-based paint abatements

You are looking at a house with “good bones” but it needs a lot of work. The FHA 203(k) streamline loan program provides up to $35,000 for renovations and repairs of your primary residence by financing the after-improved value rather than the present value of the home. Qualified borrowers can then receive a single loan with just one closing.

Shop Loans

Discover all of the mortgage options, and find the loan that fits your needs!

Home Buyer Tools

Get all the knowledge and resources you need to buy and maintain a home.

Calculators

Feel like crunching some numbers on your own? Check out our mortgage calculators!

ALCOVA-color-bar
color-bar-mobile

Equal Housing Lender LogoALCOVA Mortgage LLC | NMLS#40508 | (www.nmlsconsumeraccess.org)
Licensed in AL, CO, DC, FL, GA (License #42101), KY, MD, NC, PA, SC, TN, VA, WV | 308 Market St SE, Roanoke, VA 24011