The FHA 203K loan can be used for a wide variety of property types. 

Eligible properties under the 203K program.

1. The proposed improvements on all properties have to exceed $5,000.

2. One to four family residential properties at least one year in age are eligible.

3. Individual units in a condominium project are acceptable, provided that project has been approved by FHA or VA.

4. Home in extreme disrepair are eligible provided that there is an existing foundation system on the property.

5. A modular unit or existing home to be moved from another site can be situated permanently on the mortgaged property.

6. Mixed use residential properties are eligible, but there are restrictions.

 

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