203k Renovation

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Atlantic Home Loans offers several Renovation Mortgage programs.

FHA 203-K

203-K mortgages are intended for owner-occupied transactions only. Eligible properties include 1-4 unit homes, some condos, manufactured homes and even mixed-use buildings.

LIMITED 203-K

For smaller, mostly cosmetic projects. No structural repairs or alterations are allowed. There is no required minimum dollar amount of renovations, but the cost of renovations, including a contingency reserve and any renovation-specific fees, cannot exceed $35,000.

STANDARD 203-K

This is for larger, more costly and more complicated projects. The Standard 203-K allows for structural changes such as additions, taking down walls and foundation repairs. A minimum of $5,000 of renovations is required, but there is no maximum.

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50 Route 46, Parsippany, NJ 07054, United States

(877) 598-6500

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Atlantic Home Loans Atlantic Home Loans & Mortgages
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Atlantic Home Loans, Inc. NMLS#15241 – NMLS Consumer Access Site – 50 Route 46 West, Parsippany, NJ 07058 licensed or authorized Mortgage Lender/Banker by, and does not offer its loan services or products in any states other than, the following: CA Department of Business Oversight, CT Dept of Banking, DC Department of Insurance, Securities and Banking, DE Office of the State Bank Commissioner, FL Office of Financial Regulation, GA Residential Mortgage Licensee Number 21177, MD Commissioner and Financial Regulation, MA Division of Banks Lender/Broker MC#15241, NJ Dept of Banking and Insurance, Licensed Mortgage Banker-NYS Department of Financial Services, NC Commissioner of Banks Mortgage Lender, PA Dept of Banking, Rhode Island Licensed Lender/Broker, Virginia State Corporation Commission License MC-3001. Atlantic Home Loans is not acting on behalf of or at the direction of HUD/FHA or the Federal Government.
Texas Mortgage Banker Disclosure – Mortgage Banker: Atlantic Home Loans, Inc. NMLS ID: 15241 – Consumers wishing to file a complaint against a mortgage banker or a licensed mortgage banker residential mortgage loan originator should complete, sign and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be downloaded and printed from the department’s website at www.sml.texas.gov. A toll-free consumer hotline is available at 1- 877-276-5550. – The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s web site at www.sml.texas.gov

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