<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=262189827814310&amp;ev=PageView&amp;noscript=1">

Amerifirst blog

 Explore our blog for insights on buying, financing, remodeling, and taking care of your home.

Back to all posts

Can I Refinance My FHA Loan into an FHA 203K for Renovations?

Couple-with-Paint-samples

We get a lot of questions, and many of them are situation-specific. However, some questions are great for all kinds of home buyers or homeowners. This particular question is one of those: a great to answer for all kinds of folks.

 

On several articles and over quite a few phone calls, people want to know if they can refinance their current mortgage into an FHA 203k to take care of updating, remodeling or renovating their current home. In short, yes it's possible.  

 

 

John C says, "I bought a house in 2010 with an FHA loan. I want to add another room and do other renovations. Is a FHA 203k loan a possibility? If so, would the loan be only for the renovations cost or can it be part of a refinance for my existing mortgage?"


In short, yes you can refinance and remodel with the FHA 203k loan. Rolling the mortgage you have now, plus the renovations and improvements you want to do, is possible with the 203k.


The new mortgage will include what you owed on the previous loan PLUS the work you're financing. Get more 203k loan info with our free guide in the description below.

 

You can learn more at the button below.

Ultimate Guide to Renovation Loans

Related Posts

Getting a Mortgage When You're Self-Employed: 5 Things You Should Know

It’s great to be your own boss! That is until you need to convince someone to give you a loan. But with a good plan and support from your loan officer, you’ll find that buying a home is one more American dream you can achieve.

Down Payment Assistance: How to Get Help Buying Your First Home

If you're like many first-time buyers, saving up the chunk of money you’ll need to buy a home can be a real challenge.

How to Build a Down Payment with Tax Returns and Stimulus Checks

Every once in a while, the stars align and things fall perfectly into place. That’s the case right now, with tax returns and stimulus checks coming in just in time for the spring home buying season! With a little planning, you can use this income to put together a down payment for your next home.

icon_footer_phone-01

Call us

800.466.5626

icon_footer_laptop-01

Get started

Apply online today