203(K) and Homestyle Financing


Renovation Financing Options

Buying property in need of repair or modernization is a good way to get into a house, but bridge construction loans can be difficult to obtain with high interest rates, short terms and balloon payments. Federally insured programs designed to help include 203(k), 203(K) Streamline, and Homestyle loans, all of which enable home buyers (and owners) to finance (or refinance) purchase and rehabilitation costs into a single mortgage.


  • finance up to 110% of “as-repaired” value
  • allowable repairs include foundations, additions, roofs, well and septic, electrical, insulation, windows, painting, new kitchens, carpet, furnace: almost any improvement that remains a permanent part of the property.
  • higher amount of paperwork and loan costs, but comes with the most flexibility in what you can do and how you can do it


203(K) Streamline

  • maximum of $35,000 in improvements, minimum of $5,000
  • does not cover structural work or landscaping
  • minimal paperwork and associated loan costs



  • Renovations limited to 50% of “as-completed” value
  • No ineligible or required repairs
  • Single and multi-family, investment, and second homes
  • minimal paperwork and associated loan costs


Where to Begin:

At Missoula Home Inspections, as approved FHA consultants, all or part of our regular inspection fee can be applied against future loan costs if you do decide to proceed with renovation financing. If you’re considering buying property that needs work/updating (and most of them do), you can save both time and money if we do your inspection. Each of these programs has specific rules, and every renovation is unique; if you’re interested in learning more please call 406-531-6693 or e-mail dave@missoulahomeinspections.com