Interested in a 203(k) loan?

We've put together and reviewed a list of 203(k) loan lenders.

FHA 203k loan requirements


What are the requirements for a FHA 203k loan?

There are specific requirements for someone to qualify for a FHA 203(k) loan. To qualify for a 203(k) loan, you must have the following:

  • Minimum credit score of 500
  • Minimum of 3.5% for down payment if your credit score is 580 or higher
  • Minimum of 10% for down payment if your credit score is between 500 and 579
  • Debt-to-income ratio (DTI) of under 50 (i.e. your total debt must be under 50% of your pre-tax income, including debt you’re not actively paying)
  • Valid Social Security number
  • Proof of U.S. citizenship, legal permanent residency, or eligibility to work in the U.S.