Log In  |  Contact Us  |  Help
203(k) Rehab Loans

When buying a house that needs repair or rehabilitation, homebuyers usually have to follow a complicated and costly process.  However, with a Federal Housing Administration (FHA) 203(k) Rehab Loan, borrowers can purchase or refinance their home and include the costs to rehabilitate and repair it into the same loan, with one loan closing.

An important tool for community and neighborhood revitalization, the FHA 203(k) loan offers flexible qualifying and low down payments:

  • FHA standard guidelines
  • FHA down payment - 3.5% of the total of the sales price plus the cost of renovation
  • Flexible credit qualifying
  • Purchase or Refinance with renovations all in one loan
  • The loan amount is based on the projected market value of the property when all repairs are completed
  • One closing and then repairs begin

Types of Improvements that borrowers may make with a 203(k) loan:

  • Structural alterations and reconstruction
  • Modernization and improvements to the home's function
  • Elimination of health and safety hazards
  • Changes that improve appearance and eliminate obsolescence
  • Replace flooring, tiling and carpeting
  • Recondition or replace plumbing, heating air conditioning and electrical upgrades
  • Install or repair well and/or septic system
  • Add or replace roofing, gutters and downspouts
  • Additions to the structure
  • Kitchen, Bathroom and Basement Remodeling
  • Add of repair patios, decks or terraces
  • Major landscape work and site improvements
  • Enhance accessibility for a disabled person
  • Make energy conservation improvements

Eligible Properties – 1-2 units, Owner Occupied, Attached or Detached Single Family Homes, Condos and PUDs

  • REOs (Real Estate Owned by a bank, Lender or Government Agency)
  • Foreclosures
  • Short Sales

These properties are often in need of improvements and/or rehabilitation

 203(k) Programs we Offer

One Valuable Program with Two Great Options

Standard (Full) FHA 203(k) Loan

  • For larger projects that are more than $35,000 or contain structural work (load bearing walls, etc.).
  • Licensed 203(k) HUD Consultant must supervise the project
  • All repair work and renovation must be done by a Licensed Contractor
  • No limit on the total dollars you can spend for renovations, not to exceed the FHA county loan limit
  • Minimum $ 5,000 of improvements
  • Up to six months PITI can be included in the mortgage if the property is not occupied during construction

FHA 203(k) Streamline – Limited Repair Program

  • Mostly used for minor or cosmetic repairs, with total costs of rehabilitation not to exceed $ 35,000
  • No minimum dollar amount of repairs or improvements required
  • Cover improvements identified by home inspector or FHA appraiser, no HUD Consultant required
  • All repair work and renovation must be done by a Licensed Contractor

What type of repairs does an FHA 203(k) Streamline loan cover?

  • Roofs, gutters, downspouts
  • Heating and air conditioning
  • Upgrade/repair plumbing, septic, well, and electrical systems
  • Replacement of flooring, windows, doors, siding
  • Weatherization, painting, basement waterproofing
  • Minor remodels that don’t involve structural repairs or additions
  • Purchase and installation of appliances
  • Kitchen and Bathroom Remodeling
  • Basement Remodeling
  • Handicapped accessibility improvements

Streamlined 203(k) is subject to the same guidelines as Full FHA 203(k) loan - it is the improvements that are “Streamlined”

What makes J.G. Wentworth Home Lending, LLC different from other 203(k) lenders?

  • J.G. Wentworth Home Lending, LLC is a direct FHA, VA and Conventional lender, and a Ginnie Mae & Fannie Mae seller/servicer
  • J.G. Wentworth Home Lending, LLC will not sell your FHA 203(k)loan to any other lender
  • J.G. Wentworth Home Lending, LLC originates, processes, underwrites, closes, funds and administers all of the renovation draws to the Contractor
  • You make your mortgage payments directly to the J.G. Wentworth Home Lending, LLC Servicing Company.
  • J.G. Wentworth Home Lending, LLC has trained & experienced Mortgage Specialists to assist you in selecting the right options to meet your personal goals and objectives in financing your Dream Home.


Get Pre-Approved!

Apply for a mortgage with a J.G. Wentworth Home Lending, LLC Licensed Loan Originator. We will review your application and loan documents to pre-approve you for a maximum payment amount and determine the best loan program to fit your needs.

Find Your Home

Look for a home that you can customize to become your dream home. Discuss with your Realtor what repairs and renovations you need for the home. Contact your J. G. Wentworth Home Lending, LLC 203(k) experienced Loan Originator to determine what loan amount you might need, and if the payment meets your budget. If the renovation requires a Full 203(k) loan, we can assist you in finding a 203(k) HUD Consultant and a Licensed Contractor to give you a quote for the repairs.

Make Your Offer

The contract between you and the seller will be just for the purchase price. It will not include the funds to be used for your home improvements. Your Realtor will forward the accepted contract to your Loan Originator to finalize the financing.

Purchase Your Home

J. G. Wentworth Home Lending, LLC processes, underwrites and closes your loan in-house. You will go to settlement on your new home with an Escrow account established to complete your home improvement project.

Renovations Complete

Once your loan closes, our Servicing Department will work with you and your contractor. We will monitor the renovation process and distribution of funds, and we will be available to answer all of your questions. Most customers have this process completed within 60 days of closing (smaller projects can be completed in less than 30 days).

The projected rehabilitation costs are held in an escrow account and disbursed as work is completed and inspected. 

For more information and to get the process started, Click the "Apply Online" link in the top left.


 ***Note: This is NOT a commitment to lend, and certain restrictions apply. All loan applications are subject to final review for credit and collateral, and there are conditions and requirements that must be met. Please contact your licensed Mortgage Loan Originator for more details.


Lindsay Moss-Frangie, Branch Manager- NMLS#: 6048
J.G. Wentworth Home Lending, LLC
600 Houze Way, D1, Roswell, GA  30076
Direct:  (404) 410-7798
Toll Free:  (855) 856-6784 Ext. 302
Office:  (404) 437-7283 Ext. 302
Office:  (978) 218-7283 Ext. 302
Cell:  (404) 451-8429
Fax:  (508) 318-0353
Copyright © 2019 J.G. Wentworth Home Lending, LLC (NMLS #2925)

Licensed by the Virginia State Corporation Commission
License No. MC-1875

Privacy Policy  | Security Statement  |  Site Map