The FHA 203k Loan Program is a home repair or
home remodel loan and a mortgage all in one.

The FHA 203(k) loan lets you include the money needed for repairs or remodeling and related
expenses in the loan. The loan can also include a 10-20% contingency reserve for expenses
above and beyond your repair estimates. You can also get up to six months’ worth of mortgage
payments included to cover the mortgage while you’re renovating the home, so that you
won’t have to make a double housing payment.

Create the home that's perfect for you.
• Have you found an outdated home in the perfect area on the perfect lot?

• Have you found the perfect home, but it just wasn’t big enough?
  Perhaps it just needs a bonus room, a master suite, the basement finished or a garage.
 The 203k Loan Program is your answer!

Who can get a 203k Loan?
• This is not just for first time buyers. Open to all primary residence home or condo buyers.
• Buyers with a 640+ credit score
• Buyers with at least 3.5% down payment based upon the final value after renovations
  are complete.
• Buyers who have 2-year work and residence history
• Buyers whose max debt to income ratio is <=50%

203k Loan Benefits
• Seller can pay up to 6% of the sales price to go towards buyer’s closing costs
• Property can close “as-is.” No repairs needed to close.
• No termite completion needed.
• Cracked slab, foundation or fire damage is OK
• Fuses or other old infrastructure is OK
  All this is worked into the loan.

I've partnered with Jim Goza, a 203k Loan specialist, to put together a smooth and
efficient process for using the 203k Loan Program. If you're interested in this type of loan,
we're the team to make it happen.

Call me! Steve Stoeppler at 615.308.8654
of email me at for additional information.