FHA 203(k) Rehabilitation Mortgage

U.S. Department of Housing and Urban Development (FHA)

Available Home Repair

About This Program

FHA 203(k) Rehabilitation Mortgage is available to homeowners in Madison, WI.

The FHA 203(k) loan lets homebuyers and homeowners finance purchase (or refinance) and renovation costs in a single FHA-insured mortgage. The Limited 203(k) covers minor repairs up to $75,000, while the Standard 203(k) covers major structural renovations. Only a 3.5% down payment is required with a 580+ credit score.

Renovation costs rolled into mortgage. Limited 203k: up to $75,000 in repairs; standard up to area loan limit. Estimate reflects typical Limited 203k project.

Verified against U.S. Department of Housing and Urban Development (FHA)'s official page on 2026-06-17.

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

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

Key Details

  • Finance home purchase and renovations in one FHA-insured mortgage
  • Limited 203(k): minor repairs up to $75,000 in renovation costs
  • Standard 203(k): major structural work up to FHA area loan limit
  • Minimum 3.5% down payment; 580+ credit score required
  • Available through FHA-approved lenders in the Madison area

How to Apply

Get free help applying Visit Official Program Page Track this program

A grant-savvy contractor in Madison, WI 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 Madison 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: Ongoing, through FHA-approved lenders

Questions about this program?

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

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Frequently asked questions

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

FHA 203(k) Rehabilitation Mortgage is open to homeowners in Madison, WI.

How do I apply for FHA 203(k) Rehabilitation Mortgage in Madison, WI?

Apply directly with U.S. Department of Housing and Urban Development (FHA) using the official program link on this page. There is no middleman and no fee.

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