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FHA 203k Loan in Liberty County, Florida

If you're looking to achieve your homeownership dream or renovate an existing home in Liberty County, Florida, you may have heard of the FHA 203k loan but may not know much about it. The FHA 203k loan program was created to help homeowners in the United States who want to improve their homes but don't have enough money to cover all the project expenses.

However, not everyone knows about this loan program and how it can help them achieve their goals. To learn more about the FHA 203k loan in Liberty County, Florida, and how it works, continue reading.

You'll find out everything you need to know about this program here, including the various types, eligibility requirements, the application process, how to transform your outdated home into your dream home with an FHA 203K loan, and other helpful tips and tricks along the way. We'll also explore the top five best desserts to enjoy while staying in Liberty County, Florida.

Understand the Basics of FHA 203K Loans

The government-insured FHA 203k loan is for homeowners who need more money for repairs that improve the home's value, liveability, and functionality. The maximum you can borrow depends on your property's appraised value, but you can get over $35,000.

Make sure a contractor does all the work to ensure quality results. Eligible expenses include structural changes, non-structural changes, cosmetic work, enlarging rooms, upgrading appliances or fixtures, roofing replacement, and other improvements like electrical or plumbing upgrades. Plus, it's not limited to one project - if a bathroom renovation is planned, it could be combined with a kitchen renovation if the cost meets the maximum requirements.

Types of FHA 203K Loans

Choosing the right 203k loan can be confusing with all the available options. But to get the most out of your renovation, you should understand the different FHA 203k loans available to use each product to your advantage.

To help you make this decision, we've divided the various FHA 203k loan options into three broad categories. You can use this information to decide which FHA 203k loan suits your project.

FHA Standard 203K Loan

Standard 203k loans are used when your home requires structural work, non-safety-related landscaping, or renovation costs exceed $35,000. While there's no cap on renovation budgets, FHA loan limits will apply, and the minimum repair costs can go below $5,000.

You'll need an approved contractor and a HUD consultant. HUD Consultants ensure compliance with all minimum property standards and that your contractor has completed the renovation work according to the contract.

Below are the home rehabilitation projects eligible for an FHA Standard 203K loan in Liberty County, Florida:

  • Expand the size of your kitchen by stretching into the dining room.

  • Improve interior lighting by expanding the size of your windows.

  • Build a detached garage if one doesn't exist.

  • Demolish walls to expand the floor plan.

  • Build a retaining wall to contain flooding.

  • Build an addition to add square footage.

  • Finish an attic or basement.

  • Make restorations to the pool.

  • Fix foundational issues.

FHA Limited 203K Loans

The FHA 203k Limited loan is suitable for a home that needs non-structural or cosmetic work. There's no minimum amount for repairs, but your total renovation budget can't exceed $35,000. The Limited 203K loan doesn't require a HUD Consultant.

As the borrower, you will only complete a written work plan confirming your familiarity with the contractor's bid. You can use this loan to finance your existing mortgage payments.

The lender may also require an inspection by a third party to determine if the necessary improvements are eligible before issuing final approval. The following is a list of renovation projects qualifying for a Limited 203K loan in Liberty County, Florida:

  • Increase energy efficiencies by replacing your windows.

  • Update your HVAC, plumbing, and electrical systems.

  • Install new countertops in your kitchen and baths.

  • Install gutters and downspouts.

  • Do interior and exterior painting.

  • Install new tub and showers.

  • Replace the home siding.

  • Renovate flooring.

  • Repair the septic.

  • Repair the roof.

The HomeStyle Renovation Loan

A HomeStyle renovation loan is a typical home renovation mortgage that allows you to make any repairs permanently affixed to your property. This loan can cover both structural and non-structural repairs. You can also landscape and add home site amenities to improve comfort and convenience.

When you have finished making all the repairs, your house will be at least new and worth more than it was before. Below are the home renovation projects that qualify for a HomeStyle Renovation loan in Liberty County, Florida:

  • Enhance curb appeal by transforming the fascia of your home.

  • Construct an attic and install dormer windows.

  • Replace your kitchen appliances.

  • Redress lead-based paint.

  • Build an open floor plan.

  • Build an on-suite bath.

  • Add a new carpet.

  • Revamp all fixtures.

  • Restore a well.

  • Add a pool.

Eligibility Requirements for the FHA 203K Loan Program in Liberty County, Florida

To qualify for the FHA 203K loan program, you'll need to meet specific eligibility requirements set by the Federal Housing Administration (FHA) and governed by the U.S. Department of Housing and Urban Development (HUD).

If you're considering using FHA 203K financing to improve your home, here are the minimum requirements you must meet to obtain a loan through this program.

Credit Score

Applicants for any FHA-insured mortgage must meet minimum credit score requirements. The minimum credit score to qualify for an FHA 203K loan is 620.

The higher your credit score, the better your chances are of getting approved for a mortgage loan with lower interest rates and down payment requirements.

If you don't meet the minimum requirement, you may increase your eligibility by doing a few things to improve your credit score before applying for your 203K loan.

Debt-to-Income Ratio (DTI)

Your debt-to-income ratio (DTI) measures how much income you have to cover your expenses. It's calculated by dividing your total monthly debt (including mortgage payments) by your monthly gross income.

Generally, your DTI shouldn't exceed 43% to qualify for an FHA 203K loan. The higher the DTI percentage, the less likely you will qualify for an FHA 203K loan. Lenders may disqualify you if your DTI ratio is too high or require you to increase the down payment and pay cash at closing.

Additional Product Information

Applying for an FHA 203K loan requires you to meet more eligibility requirements in addition to qualifying under the program's primary conditions and demonstrating adequate income and credit history.

These range from FHA property requirements to loan usage restrictions. So, it would be best if you meet the following additional product eligibility criteria:

  • You must not have a history of bankruptcy or foreclosure within the last two years.

  • You can only add accessory dwelling units (ADUs) to an owner-occupied, one-unit residence.

  • You can't use a 203K loan to refinance existing mortgages or purchase rental properties.

  • Your property will only qualify if it presents necessary amenities like bedrooms, kitchens, and bathrooms with running water.

  • During and after the project, you must occupy the home as your primary residence and can't use it as collateral for a loan from another source.

Model house and color swatch for home renovation

Your Complete Guide to Applying for an FHA 203K Loan in Liberty County, Florida

Applying for a 203K loan can be confusing, especially if you've never had any experience with renovation mortgages before.

Fortunately, the following guide to applying for an FHA 203K loan will walk you through each application step to keep you informed on what you're getting into:

Find a Loan Officer

Find a knowledgeable and trustworthy Loan Officer in your area who can help you identify all the available loans, determine if you're eligible, and answer any questions.

They'll also refer you to other resources in the process, like lenders, HUD consultants, appraisers, property inspectors, general contractors, real estate agents, and attorneys.

Get Pre-approved

To apply for an FHA 203K loan, you'll need to submit a completed 203K pre-approval application form to pre-qualify. You must fill this form with all the crucial information, including your financial standing, proof of income, credit score, down payment amount, property location/type, and additional information depending on your specific lender.

So, to start the pre-approval process, you'll need to gather the necessary documents like recent pay stubs and statements from your bank and credit union.

Find a HUD-approved Contractor

At some point, there's going to be a home renovation project that'll require an experienced contractor.

You'll be needed to find a local HUD-approved contractor who understands Liberty County building and renovation codes. Also, ensure the contractor is bonded, insured, and licensed before you hire them.

Appraisal and Inspection

You'll be required to work with a HUD-approved consultant to ensure the appraisal is performed per HUD and Federal Housing Administration guidelines.

The consultant will appraise and inspect the property to determine if the potential renovations are eligible for an FHA 203K loan. Once they've completed their inspection, they'll write a detailed report and send it to your lender.

Submit Specs and Plans

Specs and plans are required if you're modifying the floor plan. You provide a detailed list of all improvements and a cost estimate to bring it up to code utilizing standard building techniques. The lender will use this information when determining your loan amount.


Once your home has been assessed and reviewed, the file will be submitted to your lender for Underwriting. If the statement is approved, the lender will send you a decision letter indicating you're ready for closing.


Upon loan closing, the contractor will begin the project. After the renovations are complete, an appraiser or HUD-approved consultant will inspect your home to verify it capitulates with HUD minimum property standards.

How to Transform Your Home with an FHA 203K Loan in Liberty County, Florida

If you want to upgrade your existing home into your dream home, an FHA 203K loan can be the way to make this happen. If you're ready to create your dream home without moving out to excuse the project, here's how an FHA 203K loan can help you accomplish that:

  • Expand your sitting room by building additional square footage to accommodate your growing family.

  • Get rid of debris, update all fixtures, and paint the home's interior and exterior.

  • Build an additional bathroom to avoid sharing one with your growing family.

  • Make rejuvenating touches to create a modern feel.

  • Build a pool to form a residential oasis.

5 Desserts in Liberty County, Florida and Where to Find Them

Liberty County, Florida, located in the southern part of the state, is home to some of the most delicious desserts in the entire country.

Whether you're looking for a sweet treat to cap off your lunch or dinner or pick up something decadent and delicious to eat at home, these five Liberty County desserts are sure to please you!


Do you want some ice cream? How about some gelato? Many places around the United States sell delicious treats for Gelato, but Liberty County is one of the best places to get the best Gelato.

From authentic Italian flavors like limoncello and hazelnut chocolate to more traditional tastes like vanilla and strawberry, there's a flavor at every taste level. Try any of these five places in Liberty County, Florida, for the best Gelato:

  • The Sugar Fix - Authentic Shave Ice
  • Lake Mystic Super Market
  • The Ice Box Shaved Ice
  • Piggly Wiggly

Apple Pie

This apple pie, known as the perfect dessert for a family holiday, is sweetened with corn syrup and buttery shortening for a light, flaky crust. It also features cinnamon, nutmeg, allspice, and salt.

Since we're talking about an all-American favorite, it's best to stick with fresh fruit such as juicy red apples or Granny Smiths. If you're looking for one of the best examples of this dessert within Liberty County, Florida, then you don't have to look any further than:

  • Subway
  • Capt Kelly's Grill
  • Apalachee Restaurant
  • Lake Mystic Super Market
  • Benny's of Liberty Benny's BP


The appeal of cheesecake goes way beyond its taste. It is a classic dessert that has evolved through time, becoming one of the most beloved desserts today. The cheesecake recipe is just as simple as its history—a soft and creamy mixture baked with dairy and eggs.

You can customize it to suit your favorite tastes. When exploring your options for desserts in Liberty, be sure to try out one (or more) of these mouthwatering delights in the following eateries:

  • Goodie Treats
  • Piggly Wiggly
  • Capt Kelly's Grill
  • McTanzie's Cheesecake

Pecan Pie

This Southern staple is a tradition that most people look forward to all year. Pecan pies can range from mild (containing only sugar) to spicy (containing cayenne pepper). Some eateries offer a creamy version that combines the sweetness of pecans with brown sugar and cinnamon.

You won't want anything else when you taste a fresh pecan pie with natural whipping cream, pecans, and spices. Stop by one of the following eateries in Liberty County, Florida to grab your Pecan Pie:

  • T&P Deli
  • Subway
  • Piggly Wiggly
  • Capt Kelly's Grill
  • Apalachee Restaurant

Key Lime Pie

Liberty County is home to one of the most coveted desserts in The Sunshine State - Key Lime Pie. With the perfect balance of tart and sweet flavors and a smooth texture that melts in your mouth without being too rich, it's no wonder this quintessential Florida dessert is consistently voted among the nation's favorite sweet treats.

There are plenty of spots in Liberty where you can get this delicious dessert, but if you're looking for something to make your taste buds dance for joy, try one from:

  • Capt Kelly's Grill
  • Apalachee Restaurant
  • Piggly Wiggly
  • Lake Mystic Super Market

Bottom Line

The FHA 203k Loan is one of the most beneficial loan programs available to anyone in the United States. It has been designed to make it easier for homeowners to buy, improve and repair houses across the country. Liberty County, Florida, has seen its share of significant benefits from this home renovation program for decades.

If you're interested in taking advantage of a 203K loan in Liberty County, Florida, contact your local loan officer, HUD-approved consultant, or an FHA-approved lender to confirm your eligibility before getting started.

With over 50 years of mortgage industry experience, we are here to help you achieve the American dream of owning a home. We strive to provide the best education before, during, and after you buy a home. Our advice is based on experience with Phil Ganz and Team closing over One billion dollars and helping countless families.

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