Loan Program
FHA 203(k) Renovation Loans in Florida
An FHA 203(k) loan lets you finance the purchase (or refinance) of a home plus the cost of repairs or renovations in one mortgage, with as little as 3.5% down for qualifying borrowers. Limited 203(k) covers smaller non-structural projects; Standard 203(k) covers larger work with a HUD consultant. Availability and terms depend on eligibility, underwriting, and Bold Mortgage program guidelines.
Last updated October 10, 2026
203(k) requirements
| Down payment | 3.5% of purchase price plus renovation costs (qualifying borrowers) |
|---|---|
| Types | Limited (smaller, non-structural) and Standard (larger, structural) |
| Contractors | Licensed contractor bids required |
| Consultant | HUD consultant required for Standard 203(k) |
| Occupancy | Primary residence |
Florida-specific considerations
Older Florida homes often need roof replacement, electrical or plumbing updates, or impact windows to pass insurance 4-point and wind mitigation inspections. A 203(k) can roll those improvements into the purchase loan.
Florida's licensing and permitting rules apply to renovation work, and timelines can be affected by contractor availability after storms, so building in time is wise.
Who a 203(k) loan is for
- Buyers of homes needing repairs
- Buyers who want to update an older home
- Homeowners refinancing to renovate
Step-by-step process
- 01
Pre-approval
Set a budget for purchase plus renovation.
- 02
Contractor bids
Get licensed contractor estimates.
- 03
Appraisal
Based on the after-improved value.
- 04
Closing
Renovation funds go into escrow.
- 05
Renovation
Funds release as work is completed and inspected.
Related programs
Related guides
203(k) loan FAQs
What can a 203(k) pay for?
Repairs and improvements such as roofs, HVAC, plumbing, electrical, kitchens, bathrooms, flooring, and windows. Luxury items like pools are generally not eligible.
What's the difference between Limited and Standard 203(k)?
Limited 203(k) covers smaller, non-structural projects up to a HUD-set cap. Standard 203(k) covers larger or structural work and requires a HUD consultant.
Can I do the work myself?
Generally no. FHA requires licensed contractors for most work.
How is value determined?
The appraiser estimates the home's value after improvements are completed.
Can I use 203(k) for impact windows?
Yes, impact windows and roof work are common Florida 203(k) improvements.
How long does renovation take?
Timelines vary by scope and contractor availability; Standard 203(k) projects take longer.
Ready to see what you qualify for?
Apply online in minutes, or estimate your payment first.
Equal Housing Lender. This is not a commitment to lend. All loans are subject to credit approval, underwriting guidelines, and property eligibility. Program availability, terms, and guidelines may change without notice. Information is for educational purposes only.