203k Renovation

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.


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.


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.