203(k) Rehab Loans in Ridgeland, MS
Finance Your Home Purchase & Renovation in One Loan

Considering a fixer-upper in Ridgeland or the surrounding Jackson metro area? An FHA 203(k) rehab loan lets you finance the home purchase and approved renovation costs in a single mortgage. It’s a smart way to buy an as-is property and update it without taking out multiple loans or paying for repairs upfront.

Why 203(k) Rehab Loans Are a Smart Choice in Ridgeland, MS

Ridgeland’s established neighborhoods, family communities, and homes throughout Madison County often benefit from updates and modernization. A 203(k) loan gives buyers and homeowners a structured way to finance these improvements while keeping things simple. Borrowers choose this program because:

• You can consider homes needing updates—not just move-in-ready listings.
• You finance renovations as part of your mortgage, avoiding high-interest personal loans.
• You enjoy one loan, one closing, and one monthly payment.
• Strategic renovations can boost long-term value in Madison County’s competitive housing market.

What an FHA 203(k) Loan Includes

The FHA 203(k) program allows you to finance both the purchase or refinance of a home and the cost of approved renovations. It supports everything from cosmetic updates to major structural repairs.

The program offers two options:

• Standard 203(k): Best for large renovations, structural repairs, additions, and major system upgrades.
• Limited 203(k): Ideal for non-structural improvements like flooring, paint, windows, fixtures, and interior upgrades.

After closing, renovation funds are escrowed and released as work is completed and inspected. When finished, you have a fully updated home financed under one mortgage.

Who a 203(k) Loan Can Help in Ridgeland, MS

• Buyers looking at older homes needing updates across Ridgeland or Madison County.
• Homeowners wanting to refinance and complete necessary renovations.
• First-time buyers wanting affordability paired with renovation flexibility.
• Families seeking to modernize a home before moving in.
• Buyers looking to add value through thoughtful upgrades.

How a 203(k) Loan Works with Honor Home Loans in Ridgeland

1. Identify the home and renovation needs. Choose a fixer-upper or explore improvements for your current home.
2. Meet with our Ridgeland mortgage team. We explain program requirements and help select the right 203(k) option.
3. Gather contractor bids and finalize your scope. Standard loans require a HUD consultant.
4. Underwriting evaluates your after-improvement value. This may allow more borrowing power.
5. Close and start renovations. Funds are held in escrow and released as work progresses.
6. Move into your improved home. Enjoy one mortgage payment and a fully updated residence.

Popular Renovation Projects in Ridgeland

• Kitchen remodels and layout improvements
• Bathroom renovations and fixture upgrades
• New flooring, paint, lighting, and interior updates
• HVAC, electrical, and plumbing system upgrades
• Roof replacement, siding repairs, and exterior improvements
• Energy-efficient windows and insulation
• Structural repairs or additions, where eligible

Disclaimer: The content on this page is based on regulations and information available at the time of posting, but may change without our knowledge. This content is intended for informational purposes only and does not constitute any legal or binding agreement.