203K Loan
FHA 203(k)
What is a 203(k) loan?
A 203(k) loan is an FHA-backed mortgage that allows buyers to purchase or refinance a home and include renovation costs in one loan. It opens the door to homes that need work, often at a better price, without juggling a separate construction loan.
How Ergon Builders helps
Our team is HUD-certified to provide 203(k) consulting. We prepare the scope of work, estimate costs realistically using 25+ years of construction experience, coordinate inspections, and protect both borrower and lender from start to finish.
Eligible Repairs
- Structural repairs and foundations
- Roof replacement
- Electrical, plumbing, and HVAC upgrades
- Kitchen and bathroom remodels
- Energy-efficiency improvements
- Accessibility upgrades
- Flooring, paint, and finishes
- Additions (Standard 203k)
The Process
Step-by-step
Pre-Approval
Work with an FHA-approved lender to confirm you qualify for a 203(k) loan.
Feasibility & Inspection
We inspect the property and identify required and desired repairs.
Work Write-Up
We prepare the HUD-compliant scope of work and cost estimate for your lender.
Closing
Your purchase and renovation costs close together in one mortgage.
Construction & Draws
We perform draw inspections so funds are released as work is completed.
Final Inspection
We verify completion and help close out the renovation escrow.
Considering a 203(k) home?
Tell us about your plans and we'll schedule a consultation with our licensed team.