Finance minor, non-structural improvements with one FHA-insured mortgage — no HUD consultant, up to three contractors, and a streamlined draw process when your total rehab budget stays at or under $75,000.
Cosmetic & light rehab
Kitchens · baths · HVAC · flooring
Non-structural scope only — structural work requires Standard 203(k).
Designed for buyers and homeowners who want to finance repairs without major structural work — ideal when cosmetic and light-system updates fit under the $75,000 total rehab budget.
Purpose
Minor, non-structural home improvements
Transactions
Purchase · Rate/term refinance
Occupancy
Primary residence only
Credit
Per AUS (delegated & non-delegated)
Minimum repairs
No minimum repair amount
Maximum repairs
The total rehabilitation budget — repairs + fees + contingency + financed costs — cannot exceed $75,000.
Scope over the cap? See FHA 203(k) Standard →
The renovation escrow may include:
Required minimum
10% of repair costs — or 15% if utilities are off or not functioning.
Unused contingency
Applied to principal. If the borrower paid contingency in cash, unused funds may be reimbursed.
Structural work, foundation repairs, room additions, or budgets over $75,000? FHA 203(k) Standard →
Contractors
No FHA 203(k) consultant required on Limited — licensed contractor bids and lender inspections drive the file.
Draw schedule
10% holdback on each draw. Up to 50% of labor and materials may be advanced before work begins if the contractor cannot wait for payment.
Completion
All renovation work must be completed within nine months of closing.
Not appropriate for structural changes, room additions, foundation work, or moving load-bearing walls — use Standard 203(k) for those scopes.
Limited-only calculator
Locked to Limited Streamline rules — $75,000 rehab cap, $100,000 minimum loan, LTV checks, contingency breakdown, and two draw inspections ($400 total).
Estimated monthly payment
$2,226
30-Year Fixed · 6.5% · PITI + MIP + HOA
Limited rules reminder
This calculator is for informational purposes only. Results are estimates and are not exact — they do not include all closing costs, prepaid interest, or escrow deposits. Contact us for a personalized quote.
All loans are subject to credit and property approval. FHA 203(k) Limited guidelines, loan limits, MIP rules, and pricing are subject to change without notice and may not be available in all areas. This website is not affiliated with or endorsed by HUD, FHA, or any government agency. Calculator results are estimates only and are not a commitment to lend. Information is for educational purposes only.
Mortgage Knowledge Center
Straight answers on eligibility, eligible homes, improvements, credit, down payment, buy-and-renovate, refinance, DIY rules, contractors, draws, consultants, timelines, closing costs, and how Limited compares to Standard and HomeStyle.
Ryan and Steve will review your contractor bids, confirm your scope stays non-structural and under the $75,000 cap, and walk you through purchase or rate/term refinance on one FHA note.