Government
FHA 203k Rehab Loans
Dreaming of a home renovation but lacking the funds? CMRE's FHA 203k Rehab Loans offer a unique solution, allowing you to finance both the purchase and renovation costs of a property with one convenient loan, starting at rates as low as 6.25%. Transform a fixer-upper into your dream home with the support and flexibility of an FHA 203k loan.
Program Benefits
Finance both purchase and renovation costs with a single loan.
Low down payment options available.
Ideal for purchasing and renovating distressed or outdated properties.
Increase the value of your property through renovations.
Starting rates as low as 6.25% for qualified borrowers.
Improve your living environment by customizing your home to your needs.
Program Highlights
Max LTV
96.5%
Min Credit Score
580
Max DTI
55%
Loan Amount Range
$50K - $2M
Amortization Options
Eligible Properties
- Single Family
- Multi-Family (1-4 units)
- Condo
- Townhouse
Program Requirements
Income Documentation
- •Stable and verifiable income is required.
- •Debt-to-income ratio must meet FHA guidelines.
- •Income should be sufficient to cover mortgage payments and renovation costs.
- •Proof of employment and income documentation (pay stubs, tax returns) are necessary.
Asset Verification
- •Sufficient funds for the down payment and closing costs.
- •Reserves may be required depending on the loan amount and credit profile.
- •Assets can include savings, checking accounts, and investment accounts.
- •Documentation of all asset sources is required.
Insurance & Title
- •Homeowners insurance is required.
- •Mortgage insurance is required for the life of the loan.
- •Flood insurance may be required depending on the property location.
- •CMRE can assist in finding suitable insurance options.
Property Requirements
- •Minimum FICO score of 580 required.
- •A credit history demonstrating responsible borrowing behavior is essential.
- •Past bankruptcies or foreclosures may require a waiting period.
- •CMRE offers credit counseling to help improve your credit score.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
The minimum down payment for an FHA 203k loan is typically 3.5% of the loan amount.
Yes, the FHA 203k loan can be used to refinance an existing mortgage and include the cost of renovations.
The types of renovations allowed depend on the type of 203k loan. Limited 203k loans are for non-structural improvements, where Standard 203k loans can be used for structural improvements.
Sam K.
Senior Loan Strategist
With over 15 years in the mortgage industry, Sam specializes in complex jumbo and non-qm financing solutions, helping clients navigate unique financial landscapes.
NMLS #12345 | Certified Mortgage Advisor (CMA)
TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
