FHA 203K Multifamily Loan: Invest in 2 - 4 Unit Properties
Have your eye on a duplex, triplex, or fourplex that needs work? If you plan to live in one of the units, the FHA 203K loan could help you buy and renovate—using just one mortgage.
What Is the FHA 203K Multifamily Loan?
The FHA 203K loan is a government-backed renovation mortgage for 2–4 unit properties. It’s designed for buyers who plan to live in one unit full time during or after all Renovations and Home improvements.
With this loan, you can:
- Buy a Multifamily fixer-upper
- Finance needed repairs
- Move into your new home
- Rent out the extra units to offset your mortgage
Why Buyers Love the FHA 203K Multifamily Loan
FHA Rule: You Must Live in One Unit
This isn’t an investor loan. You must live in one of the units as your primary residence. You can rent out the others—but you can’t rent out all units and live elsewhere.
Ready to Renovate? Contact Your 203K Loan Expert.
Get the FHA 203K Loan Info You Need to Start!
What Can You Fix with an FHA 203K Loan?
Eligible Repairs:
- Roofing, windows, siding, doors
- Kitchen and bathroom remodeling
- Heating, cooling, plumbing, electrical
- Flooring, drywall, insulation
- Adding or Subtracting a unit (Standard 203K only
Not Allowed:
Which FHA 203K Version Do You Need?
Limited 203K:
- For minor updates and repairs
- Max renovation cost: $75,000
- No structural work allowed
Standard 203K:
- For major renovations or layout changes
- No hard cap (within FHA loan limits)
- Required for adding/removing units
Who Benefits from the FHA 203K Multifamily Loan?
This loan could be right if you:
- Found a 2–4 unit property that needs work
- Want to live in one unit and rent out the other units
- Don’t want to pay out-of-pocket for renovations
- Need a more affordable way to buy and fix a Multifamily property
How to Get Started
Step-by-Step:
- Connect with a 203K loan expert
- Get pre-approved
- Find a Multifamily property that needs work (or apply for the one you already own)
- Work with a contractor to estimate repair costs
- Choose your loan type (Limited or Standard)
- Close and start the renovations
Ready to Take the First Step?
If you’re ready to turn a Multifamily fixer-upper into a home and an income source, the FHA 203K loan makes it possible.
You will get help understanding your options, what you qualify for, and how the process works—every step of the way.
Reach out today or use our free tools to explore what’s possible.
