— FHA 203(K) RENOVATION
FHA 203(k)
Renovation Loan
A government-backed renovation mortgage that combines purchase or refinance and home improvements into one loan in Hawaii and other markets where Pacific Home Loans is licensed.
— ABOUT FHA 203(K) RENOVATION
Hawaii FHA 203(k)
Renovation Loan
The FHA 203(k) Renovation Loan is a government-insured mortgage program that allows eligible borrowers to finance both the purchase (or refinance) of a home and the cost of approved renovations in a single loan.
Pacific Home Loans offers FHA 203(k) financing throughout Maui, Oahu, Kauai, and the Big Island for qualified primary residence buyers.
→ Renovation & Construction Loan Options in Hawaii
Multi-State Availability
Pacific Home Loans provides FHA 203(k) renovation financing in multiple states, including Hawaii, California, Nevada, and other markets where we are licensed.
While this page focuses on Hawaii-specific guidance, FHA 203(k) programs may be available in other states based on borrower eligibility, property type, and program guidelines.
— FHA 203(K) RENOVATION OPTIONS
How the FHA 203(k)
Loan Works
The FHA 203(k) program allows borrowers to purchase a home and finance renovations in one mortgage, refinance and include improvement costs, base the loan amount on the after-improved appraised value, and finance approved repairs and upgrades. Renovation funds are disbursed through a draw schedule.
Eligible Property Types
- 1–4 unit primary residences
- Single-family homes
- Eligible townhomes
- Certain condominiums (subject to FHA project approval)
Streamline FHA 203(k)
Designed for smaller, non-structural renovation projects. Lower renovation cost cap, simplified documentation, and non-structural repairs only.
Examples: roofing replacement, flooring updates, HVAC repair or replacement, plumbing or electrical upgrades, accessibility improvements, exterior repairs.
Standard FHA 203(k)
Intended for larger or structural renovation projects. Eligible for structural repairs, room additions, major remodeling, and significant rehabilitation. A HUD consultant is typically required.
— FHA 203(K) RENOVATION FINANCING
FHA 203(k) vs
HomeStyle® Renovation
FHA 203(k) may offer lower minimum down payment options (3.5%) and flexible credit guidelines. HomeStyle® is a conventional alternative with different eligibility and occupancy structures.
Related Renovation & Construction Programs
→ HomeStyle® Renovation Loan
→ VA Renovation Loan
→ Construction-to-Permanent Loan
→ Land Loan
