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  renovation loan programs reference guide 

 

 

 

 

Loan Amount

 

Occupancy

Units

Max Loan Amount*

Renovation Amount

Contingency %

Seller Paid Costs 

Transaction Types

# of Contractors

Draws

 

FHA203K Limited

 

 

96.5% 

 

Owner Occupied

1 - 4

Check FHA amounts in area

Maximum $35,000

10% (15% no utilities)

Up to 6% of property price

Purchase & Refinance

Multiple

50% upfront 50% completion

 

FHA203K Standard

 

 

96.5%

 

Owner Occupied

1 - 4

Check FHA amounts in area

No Limit ($5,000 minimum)

10%

Up to 6% of property price

Purchase & Refinance

General Contractor

Up to 5

 

Good Neighbor Next Door

 

 

96.5%

 

Owner Occupied

1

Check FHA amounts in area

No Limit

 

10% (15% no utilities)

All closing costs financed  

Purchase Only

Multiple

Up to 5

 

HUD REO

 

 

96.5%

 

Owner Occupied

1 - 4

Check loan amounts in area

 

Maximum $10,000 

10%

Up to 4% of property price

Purchase & Refinance 

General Contractor

 

50% upfront 50% completion

 

 

Loan Amount

 

Occupancy

Units

Max Loan Amount*

Renovation Amount

Contingency %

Seller Paid Costs 

Transaction Types

# of Contractors

Draws

 

Conventional Streamline

 

 

97% / 95% / 85% / 75%

 

Owner / 2nd home / Invest.

1 - 4

Check Loan Amounts

Maximum $35,000

10%  

Up to 3% of property price

Purchase & Refinance

Multiple

50% upfront 50% completion

 

Conventional HomeStyle

 

 

97% / 95%/ 85% / 75%

 

Owner / 2nd Home / Invest.

1 - 2

Check Loan Amounts

75% of 'subject to' value

10%

Up to 3% of property price

Purchase & Refinance

General Contractor

Up to 5

 

USDA - RD Renovation

 

 

100%

 

Primary  

1

N/A

No Limit 

10%

Up to 6% of property price 

Purchase & Refinance

General Contractor 

 

Up to 5

 

VA Renovation

 

 

100%

 

Primary  

1 - 4

N/A

$50,000

10%

Up to 4% of property price 

Purchase & Refinance

General Contractor 

 

Up to 5

Click here for FHA loan amounts in your area   

Click here for Conventional & VA loan amounts in your area   

Click here for The Good Neighbor Next Door FHA203(K) program details 

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