Rehabilitation Mortgage Insurance
Department Of Housing And Urban Development, Asst Secretary For Housing--federal Housing Commissioner
FHA's 203(k) Rehabilitation Mortgage program is HUD's primary program for the rehabilitation and repair of one to four family properties. It is an important tool for community and neighborhood revitalization and for expanding homeownership opportunities. The 203(k) program works with either a purchase or refinance transaction and allows the cost of making repairs and/or improvement to be included in the loan amount.
Jargon-free version
Helps homeowners or homebuyers pay for repairs or improvements to their current or future homes.
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