The FHA 203(k) Limited program currently has a $75,000 maximum rehabilitation cost for applicable cases. The lender must confirm how the cap and all program rules apply to the transaction.
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Reference · Renovation financing
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| Agent question | FHA FHA 203(k) Limited See Details for FHA 203(k) Limited | FHA FHA 203(k) Standard See Details for FHA 203(k) Standard | Conventional Fannie Mae HomeStyle Renovation See Details for Fannie Mae HomeStyle Renovation | Conventional Freddie Mac CHOICERenovation See Details for Freddie Mac CHOICERenovation | VA VA Renovation / Alteration & Repair See Details for VA Renovation / Alteration & Repair |
|---|---|---|---|---|---|
| Purchase / refinance | Purchase + refinance | Purchase + refinance | Purchase + limited cash-out refi | Purchase + no-cash-out refi | Purchase + qualifying cash-out refi |
| Occupancy | Primary home | Primary home | Primary; some second homes / 1-unit rentals | Primary; some second homes / 1-unit rentals | Owner-occupied home |
| Renovation amount / key cap | Up to $75,000 total rehab cost (applicable cases) | No separate rehab cap; FHA loan limits apply | Value-based; lender calculates | Value-based; lender calculates | Our program: up to $150,000 |
| Structural work | No major structural work | Yes, with approval | Potentially; lender review | Potentially; lender review | Not assumed; ask Sean |
| Minimum project size | Confirm with lender | $5,000 minimum rehab cost | No minimum dollar amount | Confirm with lender | Confirm with Sean |
| Consultant / oversight | 203(k) consultant optional | 203(k) consultant required | Qualified plans + lender oversight | Lender escrow + oversight | Lender-controlled work + inspections |
| Typical project fit | Lighter, non-structural repairs | Major / structural rehab | Lighter through major projects | Repairs through major projects | Eligible occupied-home repairs |
| Upfront material draw | Confirm with lender | Confirm with lender | Confirm with lender | May draw up to 50% of materials at closing | Confirm with Sean |
| Completion timeframe | 9 months; extensions may apply | 12 months; extensions may apply | Confirm with lender | Within 450 days of note | Confirm with Sean |
| Property types | FHA property / condo rules apply | FHA property / condo rules apply | Unit / condo rules; manufactured limits | Primary 1–4 units; other types vary | VA-eligible home; appraisal rules |
| Best when… | Primary home + defined lighter scope | Primary home + major or structural work | A conventional alternative is worth comparing | A second conventional path is worth checking | VA-eligible borrower + occupied home |
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The $150,000 VA amount is our VA Renovation program cap, not a VA-wide agency maximum. The $75,000 FHA 203(k) Limited total rehabilitation-cost maximum applies to eligible current cases. All terms, lender participation, and property fit require confirmation.
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Pathway to ask about: Freddie Mac CHOICERenovation