
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
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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
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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
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No Limit
10% (15% no utilities)
All closing costs financed
Purchase Only
Multiple
Up to 5
HUD REO
96.5%
Owner Occupied
1 - 4
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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
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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
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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