Skip to Main Content Skip to Sitemap

FHA 203k Loans

Finance your fixer-upper.

Buying a home that needs remodeling and repairs? An FHA 203k loan from BankFive may be the perfect solution. These loans allow qualified borrowers to purchase a home AND get the funds they need for renovations.
  • Flexible credit requirements
  • Low down payment requirement (put down as little as 3.5% of purchase price)
  • Available for purchases and refinances
  • Available for owner-occupied single-family homes and owner-occupied 2-4 unit properties
  • The loan is assumable*, which can give you negotiating power as a seller down the road; when you sell your home, the buyer can assume your loan at your interest rate, rather than take out a new mortgage; if rates have risen since you took out your loan, this can be especially attractive to buyers

image supporting promotion for How Much Home Can You Afford?
How Much Home Can You Afford?
Find out with our handy Mortgage Qualifier Calculator! Try It
April 15
We had an incredibly easy time with the…
We had an incredibly easy time with the closing . Everything went smoothly. I couldn’t be any happier with the service we received . We have long been customers of Bank5 since before it was Fall River 5cent savings bank , and look forward to staying with them for the long haul.
April 14
Monica is great
Monica is great! Great rates, easy to work with, expectations of paperwork and closing process were clear
March 24
Easy process with a fantastic loan…
Easy process with a fantastic loan officer. I would be happy to send referrals to Elizabeth Tetzner.
March 24
Easy and fast
Easy and fast, quick and efficient service. Would recommend to all. Top notch service
March 24
Mortgage and Lending Staff is Phenomenal
The lending staff that I dealt with for my loan were courteous, efficient and went all out, even after hours, to make sure that my loan request was complete and accurate before it went to the underwriter. I feel that this extra effort on all of their parts made the underwriting review streamlined and thus achieved a very favorable outcome both in rate and in terms.
Aldo Petronio
March 24
Jim Hanewich made this process as…
Jim Hanewich made this process as stress-free as possible. He found me the best refinance possible and was open and honest every step of the way.
March 24
I have a wonderful experience with…
I have a wonderful experience with BankFive been with the bank for years. Monica In the loan department was absolutely the best. She went above and beyond for me I was in contact regularly she a very personable which is very important. Would gladly recommend her for future business. Everyone I dealt with at BankFive was very nice . Thanks again
Cheryl Cordeiro
March 10
Great service
Great service , Monica was very helpful! And made the process stress free
March 04
Arthur is transparent and seamless as a…
Arthur is transparent and seamless as a mortgage broker. I highly recommend working with him.
March 03
My experience with BankFive was great
My experience with BankFive was great. Everyone was very friendly and helpful. Would definitely recommend them.
Powered by

Turn that fixer-upper into a home with an FHA 203k:

  • Remodel a kitchen or bathroom
  • Add a room, porch, deck, or patio
  • Paint the exterior or add siding or windows
  • Replace a leaky roof
  • Install new flooring, carpeting, or tile
  • Update electrical, plumbing, or heating systems
At this time we are not accepting FHA 203k loan applications, but our mortgage specialists would be happy to help you find a suitable alternative financing product. Please contact us today for assistance.

* Upon qualification

Mortgage Resources
Find out how much home you can afford, review our homebuyer checklist, and check rates.