Improve Your Dream Home With A 203k Limited Loan!

203(k) loans are a great option for buying a fixer-upper and making improvements or repairs to increase the equity in your home. 203(k) loans allow you to finance the purchase of a home and the renovation costs in one loan.

Ways to Improve Your Home:

  • Structural alterations and reconstruction
  • Elimination of health and safety hazards
  • Reconditioning or replacing plumbing
  • Installing well and/or septic system
  • Modernization and improvements to the home’s function
  • Adding or replacing floors and/or flooring treatments
  • Major landscape work and site improvements
  • Enhancing accessibility for a disabled person

203K vs HomeStyle – What’s the difference?

Choosing the right renovation loan is key! Here’s the difference between FHA 203k and HomeStyle®.

FHA 203(K)

  • Minimum 3.5% down
  • Owner-occupied only
  • Does not require HUD Consultant or Architect
  • No cost for final inspection performed by HUD consultant
  • Mortgage insurance is non-cancellable
  • Maximum loan amount varies by county*

HomeStyle

  • Generally, higher loan limits
  • Minimum 3% down
  • Owner-occupied, 2nd home or
  • investment properties allowed
  • $200 fee for final inspection.
  • Mortgage insurance typically less and is may be cancelled.

Ready to renovate? Choosing the right renovation loan is key! Contact us today to see what program is best for you!


Ideal Lending is your premier home mortgage lender in Florida. At Ideal Lending, you will work one-on-one with a dedicated mortgage professional who can explain loan programs and offer great mortgage rates to meet your financial goals.

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