If you are a DIY-er, CHFA understands that your dream home may not be move-in ready. FHA 203(k) Rehabilitation mortgages allow first-time homebuyers to take advantage of below-market interest rate loans that cover costs of purchasing and making full or limited renovations to your dream home. This program may also be used to finance abandoned or foreclosed properties. There are two types of loans, Standard or Limited, depending on the estimated cost of renovations.
To apply for the 203(k) Rehabilitation Mortgage Program contact one of these CHFA- Approved Lenders: