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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 qualifed 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

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
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How Much Home Can You Afford?
Find out with our handy Mortgage Qualifier Calculator! Try It

* Upon qualification

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