FHA 203(k) Rehabilitation Mortgage

Federal Housing Administration / HUD

Available Home Repair

About This Program

FHA 203(k) Rehabilitation Mortgage is available to homeowners in Albuquerque, NM.

The FHA 203(k) loan allows homebuyers and homeowners to finance renovation costs into a single mortgage. The Limited 203(k) covers up to $75,000 in repairs for non-structural improvements; the Standard 203(k) covers major structural work up to the county FHA loan limit. A minimum of $5,000 in eligible repairs is required. Lenders and HUD-approved consultants must be involved for Standard loans.

Not a grant, this is a mortgage loan product. Monthly payment calculated on total loan amount including renovations. Minimum 3.5% down payment required.

Verified against Federal Housing Administration / HUD's official page on 2026-06-17.

Data last verified 2026-04-03. How we verify our data.

This is a national program. In Albuquerque, NM, you can stack it with local programs like these:

Key Details

  • Limited 203k: up to $75,000 in repair costs, no structural work
  • Standard 203k: structural repairs allowed, up to county FHA loan limit
  • Minimum $5,000 in repairs required
  • 3.5% minimum down payment; standard FHA credit requirements apply
  • Contact an FHA-approved lender to apply

How to Apply

Get free help applying Visit Official Program Page Track this program

A grant-savvy contractor in Albuquerque, NM can handle the paperwork, inspections, and timelines so your funding releases on schedule. Getting matched is free.

You will likely need a contractor to apply

Projects like this almost always need a licensed contractor, and many grants ask for a written estimate as part of your application. Lining up a contractor in Albuquerque early keeps your application moving.

Get matched with a contractor

Each program sets its own contractor rules. Check the official program page for exact requirements.

Your application paperwork

An FHA mortgage that rolls the cost of repairs or renovation into the loan to buy or refinance a home. The rehab work must total at least 5,000 dollars. You apply through an FHA approved lender, not a government office.

Steps to apply

  1. Find an FHA approved lender that offers the 203(k) program.
  2. Apply with that lender and choose Standard 203(k) (larger projects) or Limited 203(k).
  3. The lender brings in a HUD approved 203(k) consultant who prepares a work write-up and cost estimate.
  4. The lender underwrites, closes, and funds the loan, and the repair funds are released as the work is done.
Get the official form

Documents you will likely need

  • Standard mortgage application documents (income, assets, credit).
  • Contractor bids and a work write-up for the planned repairs.
  • Information about the property you are buying or refinancing.
Download this checklist (PDF)

Requirements vary by program and locality. Confirm the exact rules on the official program page. We can help you prepare your paperwork, but you submit it yourself.

Deadline: No program deadline

Questions about this program?

Ask us. It is free, and a real person answers within a business day.

Email us about this program

Frequently asked questions

How much can FHA 203(k) Rehabilitation Mortgage provide in Albuquerque, NM?

Up to county FHA loan limit ($806,500 for standard); Limited 203k capped at $75,000 in repairs.

Who qualifies for FHA 203(k) Rehabilitation Mortgage in Albuquerque?

FHA 203(k) Rehabilitation Mortgage is open to homeowners in Albuquerque, NM.

How do I apply for FHA 203(k) Rehabilitation Mortgage in Albuquerque, NM?

Apply directly with Federal Housing Administration / HUD using the official program link on this page. There is no middleman and no fee.

Need a Contractor for This Grant?

Grant-approved contractors understand the documentation, inspections, and timelines, so your funding releases on schedule.

Get matched with a pro, free Browse Albuquerque, NM contractors

Find More Programs in Albuquerque, NM

This is just one of many grants, rebates, and free programs available. Stack them together to maximize your savings.

See All Programs