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203K Loans

What is a 203K Loan?

A 203K Loan is a government-backed mortgage offered by the FHA that allows homebuyers to finance both the purchase and renovation of a property with a single loan. It’s ideal for buyers looking to purchase a fixer-upper or homeowners who want to make improvements to their existing home.

Who is Eligible?

To qualify for an FHA 203K loan, borrowers should:

 

  • Use the Property as a Primary Residence

  • Meet FHA Credit & Income Guidelines

  • Work with FHA-Approved Lenders and Contractors

This loan is perfect for buyers with vision who want to turn a less-than-perfect house into their dream home.

Features of 203K Loans

Finance Renovation Costs

Borrowers can include repair, remodeling, or upgrade expenses in their mortgage.

Single Loan Convenience

One mortgage, one closing — simplifying the financing of your home and repairs.

Low Down Payment

Down payments as low as 3.5% for qualifying borrowers.

FHA-Backed Flexibility

Government backing means more flexible credit and income requirements.

Possibility starts here

Get approved for your mortgage.

It may be hard to believe, but in just a few clicks, a new home or mortgage savings could be yours.

Apply Now

Client testimonials

What They Say About Us

Sarah M.
"Working with NEXA Mortgage was a game-changer. As a first-time homebuyer, I was nervous about the process, but they were so patient, explaining every detail and helping me find a loan that fit my budget. They truly made me feel like family. I’d recommend them to anyone!"
Kevin L.
"I was looking to refinance, but I’d been putting it off because of all the paperwork. NEXA Mortgage took care of everything and got me an incredible rate! The whole experience was straightforward, quick, and stress-free. I’m saving over $200 a month on my mortgage now!"
Luis G.
"I’d heard horror stories about mortgage brokers, but NEXA Mortgage changed my mind. They found me a great deal on my mortgage, and the whole team was responsive, friendly, and genuinely invested in helping me close on my dream home. I’m beyond grateful!"
Amy T.
"NEXA Mortgage turned what I thought would be a long, confusing process into a breeze. They answered all my questions, gave me solid advice, and were with me every step of the way. Thanks to them, I’m officially a homeowner! Can’t thank them enough."
Marcus J.
"As a veteran, finding a loan that respected my service was important to me. NEXA Mortgage guided me through every VA loan benefit, securing terms that worked for me and my family. This team knows their stuff and respects their clients – highly recommend!"
Jasmine H.
"I had some credit challenges, but NEXA Mortgage didn’t treat me any differently. They found options that other lenders didn’t and walked me through ways to improve my credit. Thanks to them, I’m a homeowner – something I didn’t think was possible!"