Real Estate Agents, Loan Officers and Brokers are trying to adjust to today's real estate market and find more buyers. Declining markets, credit tightening, and the disappearance of loan programs are just a few of the problems, some markets are filled with foreclosed homes that have suffered from disrepair and neglect. The majority of the banks that own these foreclosed properties are unwilling to repair these homes. As such, many of these houses do not quality for FHA loan programs, in many cases, they just do not meet the minimum standards in order to quality as habitable for the FHA.

One solution could be the 203k Renovation loan. It's a way to combine the cost of the renovations and the mortgage into one loan. This loan program provides the funds for both the home renovation and home purchase. The maximum loan amount depends on FHA determined loan limits which are set on a county basis.