Build Your Dream Home with an FHA 203(k) Loan in Jacksonville Beach

Why an FHA 203(k) Home Loan?

The main benefit of these loans is that they give you the ability to buy a home in need of repairs that you might not otherwise have been able to afford to buy. Plus, the down payment requirements are minimal and you may often be able to receive a favorable interest rate.

About FHA 203(k) Home Loans

An FHA 203(k) loan is backed by the federal government and given to buyers who want to renovate a home. These loans allow the borrower to finance the home, plus provide financing to do the necessary renovations to the home.


A 203(k) loan is offered by the Federal Housing Administration, designed to encourage lenders to fund seemingly risky home purchases. This loan is designed for houses that are damaged or in need of rehabilitation to allow neighborhood revitalization and greater homeownership opportunities. It not only covers the cost of the property, but also the cost of necessary home repairs, including bathroom remodeling, roofing, flooring, and air conditioning systems.


Often the loan will also include up to a 20% “contingency reserve” so that you will have the funds to complete the remodel in the event it costs more than the estimates suggested. The remodeling funds include parts and labor and the work must be performed by a licensed general contractor.

How do you qualify for a 203(k) Home Loan?

In order to qualify, homeowners must plan to live in the home they are repairing. The following types of residences qualify:

    • Existing construction that is at least a year old
    • Single-family, two-family, three-family or four-family dwellings
    • Condos, if they have been approved for FHA loans
    • Buyer must have a minimum credit score of 640


We’re here to make the 203K home loan process easier, with tools and knowledge that will help guide you along the way. Start with our 203K Loan Qualifier.

Types of FHA 203(k) Home Loans

  • A Standard 203(k) loan includes all major renovations
  • Limited 203(k) loans are for those homes not needing structural repair and have renovation limits

FHA 203(k) Home Loan Options

  • Fixed-Rate Mortgage
  • Minimal Down Payments
  • Terms of 15-, 20-, and 30- years available for the fixed-rate products

Ready to turn your dream into reality? Qualify for a 203(k) Home Loan here.

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