A home loan with extra money for a fixer-upper? 

When searching for a home, sometimes you find one that feels almost right – the perfect size in a great location, with a recently renovated kitchen – but it really needs some exterior cosmetic work. Or you may find one whose walk-up appeal is impeccable – but it still has laminate flooring from the 1960s. 

Perhaps, you aren't searching for a new home, but after watching a home improvement show, you realize your kitchen could use some upgrades.

Fortunately, there’s a home loan for that: an FHA 203(k) Rehab Loan, which includes additional funds for repairs and renovations that are done before move-in.

At Caliber Home Loans, we offer two types of Rehab loans: Limited for minor remodeling and non-structural repairs, and Standard for the bigger jobs. There are benefits to both, and finding the right one for you is critical, so if you’d like to look into a Rehab loan, contact us today.

Key Features and Benefits of FHA 203(k) Loans: 

    • Credit scores from 620 are allowed.
    • You are required to finance at least $5,000 of renovation/repair work.
    • The total loan amount depends on several factors, including which Rehab loan is best for you! 
    • Eligible properties include single-family homes, 2-4 unit properties, modular homes, and Planned Unit Development (PUD) properties.
    • Fixed-rate, 30-year loans keep your monthly budgeting simple.

Estimate your monthly payment

Update the information below to estimate your monthly payment

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Private Mortgage Insurance typically costs between 0.5% to 1% of the entire loan amount over 80% LTV on an annual basis.

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Your Monthly Payment

$1,512.46

Your Payment

Monthly Principal & Interests : $1145.80

Monthly Real Estate Taxes : $316.67

Monthly Insurance : $66.67

Monthly PMI : $0.00

Total Monthly Payments : $1529.13

Additional Information

Loan To Value Ratio : 80.00%

Months With PMI : 0 months

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