FHA 203K Loans

Buy and renovate with a single loan. Yvonne's background in mortgage lending gives her clients a unique advantage with 203K transactions.

What is a 203K Loan?

An FHA 203K loan lets you finance both the purchase and renovation of a home in a single mortgage. It's ideal for buyers who want to turn a fixer-upper into their dream home.

How Yvonne Helps

  • Expert guidance on 203K loan qualification
  • Trusted lender referrals experienced with 203K
  • Contractor coordination and management
  • Renovation scope planning and budgeting
  • Project timeline management through closing
Ask About 203K Loans

Frequently Asked Questions

What is the difference between a Standard and Limited 203K loan?▾
A Limited (formerly Streamline) 203K covers repairs up to $35,000 and is ideal for cosmetic updates like paint, flooring, and appliances. A Standard 203K handles larger renovations with no repair cap, including structural work, room additions, and major remodeling. Yvonne can help you determine which option fits your project.
Can I use a 203K loan to buy a fixer-upper in San Diego?▾
Absolutely. The FHA 203K loan is specifically designed for this purpose. You can finance both the purchase price and the cost of renovations in a single mortgage. This is a powerful tool in the San Diego market where move-in ready homes often come at a premium.
What are the requirements to qualify for an FHA 203K loan?▾
You generally need a minimum credit score of 580 (620+ for best rates), a debt-to-income ratio under 43%, and a 3.5% minimum down payment based on the purchase price plus renovation costs. The property must be your primary residence. Yvonne partners with lenders who specialize in 203K transactions.
Why does having a REALTOR with mortgage experience matter for 203K loans?▾
FHA 203K transactions are more complex than standard purchases, involving HUD consultants, contractor bids, draw schedules, and strict timelines. Yvonne's prior career in mortgage lending means she understands both sides of the transaction, anticipates lender requirements, and can prevent common delays that derail these deals.