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FHA 203k Loans

Finance your fixer-upper.

Buying a home that needs remodeling and repairs? An FHA 203k loan from BankFive may be the perfect solution. These loans allow qualified borrowers to purchase a home AND get the funds they need for renovations.
 
  • Flexible credit requirements
  • Low down payment requirement (put down as little as 3.5% of purchase price)
  • Available for purchases and refinances
  • Available for owner-occupied single-family homes and owner-occupied 2-4 unit properties
  • The loan is assumable*, which can give you negotiating power as a seller down the road; when you sell your home, the buyer can assume your loan at your interest rate, rather than take out a new mortgage; if rates have risen since you took out your loan, this can be especially attractive to buyers

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How Much Home Can You Afford?
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Trustpilot
March 04
Arthur is transparent and seamless as a…
Arthur is transparent and seamless as a mortgage broker. I highly recommend working with him.
Brandon
Trustpilot
March 03
My experience with BankFive was great
My experience with BankFive was great. Everyone was very friendly and helpful. Would definitely recommend them.
Escolastica
Trustpilot
February 24
The professionals were very cordial
The professionals were very cordial, experienced professional and honest. Everytime I called Susana, she answered and clarified my doubts very well. My experience with Bank Five was excellent.
Roberto
Trustpilot
February 23
I have had great experience with bank…
I have had great experience with bank five since following Jim Hanewich from Rockland.
Francesco
Trustpilot
February 05
Home refinance
you guys where great thank you.
Theodore
Trustpilot
January 26
Great ReFi with BankFive and Mr Gorman
BankFive and Mr. Gorman were awesome to work with for my refinance. Very helpful every step of the way!
AM
Trustpilot
January 13
I originally went to BankFive to get a…refinance
I originally went to BankFive to get a quote to show my current mortgage company that I was refinancing with for about the 5th time. Jim was incredibly helpful even knowing I was working with another company. In the end Bank Five offered a better rate than the company I had been working with and refinanced with multiple times over many years. And Jim even found me discounts on closing costs that my prior lender had never told me about. The process was easy and efficient and there was great communication throughout. Their online portal made uploading documents simple. I have refinanced a lot and this was the best experience to date. I could not be more pleased with BankFive.
Jonathan
Trustpilot
January 13
My loan officer was the best
My loan officer was the best
Edward
Trustpilot
January 12
It was a pleasure working with…
It was a pleasure working with BankFive. Not only do they have great mortgage rates for both primary and investment property (and purchase and refinance), but their employees were very easy to work with, always available when I reached out, and completed both my refinances in good time given the number of refinances and purchase mortgages that they were dealing with. Thank you Mike Gorman for leading us through the process! I highly recommend BankFive!!
Rob
Trustpilot
January 12
Kept you informed
Kept you informed
Jose
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Turn that fixer-upper into a home with an FHA 203k:

  • Remodel a kitchen or bathroom
  • Add a room, porch, deck, or patio
  • Paint the exterior or add siding or windows
  • Replace a leaky roof
  • Install new flooring, carpeting, or tile
  • Update electrical, plumbing, or heating systems
At this time we are not accepting FHA 203k loan applications, but our mortgage specialists would be happy to help you find a suitable alternative financing product. Please contact us today for assistance.

* Upon qualification

Mortgage Resources
Find out how much home you can afford, review our homebuyer checklist, and check rates.