Finance major renovations — structural work, foundation repairs, room additions, and extensive rehabilitation — in one FHA-insured mortgage sized on after-improved value. HUD consultant required, up to 5 draws, and a 12-month completion window.
Scope under $75,000 and non-structural?
The FHA 203(k) Standard is designed for homes requiring major renovations — including structural work, foundation repairs, room additions, and extensive rehabilitation. It can be used to purchase or rate/term refinance a primary residence while financing eligible renovation costs in the same FHA-insured note.
Ryan and Steve engage a HUD-approved 203(k) consultant early on Standard files so scope, bids, and draw milestones are locked before appraisal and closing.
Standard 203(k) follows FHA-eligible property rules for renovation mortgages.
Attached or detached single-family residences
2–4 unit properties (owner-occupied)
1-unit manufactured homes (multiwide)
Mixed-use properties where FHA guidelines allow
The renovation escrow on Standard 203(k) may include labor, professional fees, reserves, and carrying costs when the home is uninhabitable.
A HUD-approved FHA 203(k) consultant is required on every Standard file.
One general contractor manages the project; specialty contractors are permitted as needed for licensed trades.
Standard 203(k) uses a structured draw process with consultant oversight and a firm completion deadline.
4 intermediate draws plus 1 final draw
Held on each draw until final completion
Final inspection required before last escrow release
Construction must finish within 12 months of closing
If the home cannot be occupied during construction, the loan may finance up to 12 months of principal, interest, taxes, and insurance (PITI) for the period the borrower cannot live in the property. Use the calculator below to estimate a financed PITI reserve.
Standard 203(k) fits significant rehabilitation — more flexibility than Limited, with a fuller consultant and draw process.
Standard 203(k) only
Locked to Full Standard rules — $5,000 minimum repairs, consultant fee, 5 draw inspections, contingency reserve, and 96.5% / 97.75% LTV limits vs. after-repair value.
Standard 203(k) rules applied
$7,875 down
Estimated Monthly Payment
$2,399
Rehab escrow breakdown
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) Standard program guidelines, loan limits, MIP rules, consultant requirements, 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. Information is for educational purposes only and is not a commitment to lend.
Compare paths or dive deeper into FHA 203(k) rules shared across Standard and Limited.
Smaller, non-structural scopes under the $75,000 rehab cap — no consultant required.
Side-by-side rules for scope, draws, consultants, and timelines.
What repair and upgrade costs can roll into the escrow.
Why Standard 203(k) requires a HUD-approved consultant.
Compare FHA 203(k) with HomeStyle and VA renovation.
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 Standard compares to Limited and HomeStyle.
Send your property, contractor bids, and renovation scope — Ryan and Steve will confirm Standard 203(k) fits before you go under contract on a major rehab.