Limited 203k (Home Repair Loan)

Grants for Grads

The Ohio Housing Finance Agency's (OHFA) Limited 203(k) allows you to combine your mortgage loan and repair costs into one long-term, fixed-rate mortgage to finance both the purchase and the rehabilitation of the property. The total mortgage amount is based on the projected value of the property after all of the repairs and updates have been completed, including the labor costs. The Limited 203(k) product is available to finance repairs up to $35,000. The property must be a one- to four-family home that has been completed for at least one year.

Am I Eligible?

You may qualify for an OHFA First-Time Homebuyer loan if the following applies:

  • You have not owned or had an ownership interest in your primary residence in the last three years.
  • You meet income and purchase price limits.
  • You meet the credit score requirements. Please note that credit score requirements may be higher for different loan types. Please check with your lender for specific requirements. The minimum credit score for borrowers using OHFA Homebuyer Programs are as follows:

    Loan Type:
    Conventional, USDA, VA = 640
    FHA = 660

    For advice on improving your credit score please contact a HUD-approved counseling agency in Ohio.

* Please view a complete list of eligibility criteria.

How Do I Apply?

OHFA works with lenders, credit unions and mortgage companies across the state. Find an OHFA-approved lender in your area, along with tips to help you with the application process, or call us toll-free at 888.362.6432.

Examples of eligible improvements under the Limited 203(k) loan:

  • Repair/replacement of roofs, gutters and downspouts
  • Repair/replacement/upgrade of existing HVAC systems
  • Repair/replacement/upgrade of plumbing and electrical systems
  • Repair/replacement of flooring
  • Minor remodeling, such as kitchens, which does not involve structural repairs
  • Painting, both exterior and interior
  • Purchase and installation of appliances, including free-standing ranges, refrigerators, washers/dryers, dishwashers and microwave ovens
  • Accessibility improvements for persons with disabilities
  • Lead-based paint stabilization or abatement of lead- based paint hazards
  • Repair/replace/add exterior decks, patios and porches
  • Basement finishing and remodeling, which does not include structural repairs
  • Basement waterproofing
  • Window and door replacements and exterior wall re-siding
  • Septic system and/or well repair or replacement


The Ohio Housing Finance Agency | 57 East Main Street | Columbus, Ohio 43215
Toll Free 888.362.6432 | Phone 614.466.7970 | Fax 614.644.5393 | TDD 614.466.1940

John Kasich, Governor, State of OhioLegal Statement and Policies

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