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

Your home deserves a facelift:

• 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

_{* Upon qualification}