RE/MAX Components
Robert and Maria McArtor

The FHA 203K Renovation Loan

Single Family Residential Homes Allowed

The Advantages

  • Allows repair/renovation costs to be rolled into the loan
  • Major items ARE allowed (Foundation)
  • Low down payment (3.5%) and seller can pay up to 6% towards closing costs
  • Close before repair/rehab begins
  • Only one closing. Money disbursed on a draw basis after closing as construction is completed
  • Loan amount can go up to 110% of the "after-improved value" from the appraisal
  • Buyer can include optional renovations/upgrades

Examples of Repairs & Renovations

  • Repair Foundation
  • Replace Roof
  • Paint Interior & Exterior
  • Install New Flooring
  • Remodel Kitchen/Bath
  • Upgrade to Central Heat/Air
  • Repair Termite or Moisture Damage
  • Energy Efficiency Improvements
  • Landscaping/Exterior Repairs
  • New Built-In Appliances
  • And More!

The Process

The process is simple if you are working with the right loan officer.

  • Client is pre-approved based on income, assets, debt and credit
  • Client selects property
  • Client meets consultant at property for inspection and feasibility study
  • Client gets contractor bid(s) and compares figures with consultant
  • Work write-up is prepared by consultant
  • Appraisal is performed "as-completed" upon executed contract
  • All paperwork is completed and submitted to underwriting
  • Underwriter approves the loan
  • Approved loan is sent to title company
  • Loan closes and rehab account is created
  • Funds are disbursed as work is completed and inspected
  • Rehab is complete

Items NOT Allowed

  • Any luxury item and/or improvement that does not become a permanent part of the subject property is not eligible, including:
  • Recreational or luxury improvements, such as pools, hot tubs, whirlpool baths
  • Barbecue pits, bath houses, tennis courts, satellite dishes, or tree surgery
  • Additions or alterations to support commercial use or to equip or refurbish
  • Washers and Dryers

To Learn More and GET STARTED TODAY!


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Marketing Homes Locally, Globally and Socially

ZILLOW Reviews
"Robert and his wife Maria did a great job selling my home. Robert stuck by me thru the months of having my home on the market. From the highs at the ... more "
by emil104th
"Words could not express how elated I feel with the services I have received from Mr. McArtor and family. I say family with sincerity because I was ... more "
by justice0880


Robert B. McArtor - Agent at RE/MAX COMPONENTS
Robert McArtor reviews


What our clients are saying  

"Robert, thank you for meeting with my wife and I. Your professionalism was outstanding. Your presentation for your marketing plan was certainly impressive and we will be listing with you in the Spring. We are looking forward to working with you"


~ Michael S. P.

"Thank you Robert, you and your Buyer Agents helped us save $12,345.00 on the purchase of our home. We were going to use a Virginia Broker who was also licensed in Maryland. You and your agents actually live in Maryland and was much more aware of the market conditions and your negotiating skills were excellent. I would recommend you and your Buyer Agents to anyone looking for a Home in Maryland. Also, you were very accessible to us by phone and email."


~ L.Perry - Harford County

"We are looking forward to a successful Auction here in Baltimore. You booked our property today at 12 noon and just like you said, it is on your website less than 12 hours later. WOW, were we impressed. Your professionalism went a long way when deciding on using your services. We are looking forward to reaping the rewards of your marketing abilities."


~ Michael St. - Baltimore City Maryland

"Just as your ad stated, we saved not only $5,000....but just over $12,000 on our home purchase, thank you thank you thank you!"


~ M.K. - Jarrettsville Maryland

"Robert, you met with my husband and I this past weekend and just wanted to say thank you. We were very impressed and very informed about the Auction Method! Because of your advise on our situation with our home. We are looking forward to listing the property with you. Please let us know a good time to meet."


~ John C. - Baltimore County

"My home was listed for three weeks with your team. I knew the property needed work when you listed it but had NO idea the interest. In just three weeks we had 23 showings, over 900 views of the Visual Tour you did for me and you negotiated a FULL Price contract! I am looking forward to settlement.....there is nothing more I could have asked for from your team."


~ J.S. - Rosedale Maryland

TESTIMONY: "Our search began in January and in a matter of 2 weeks we found our dream home. Robert and his team worked with us with financing, moving, even helped us moved our refrigerator! Now the good part, Robert was able to help us negotiate a savings of $5,800! on the purchase of our home. We were so excited, I referred my friend at work. Thank you Robert for a job well done."


~ T.R. - Belcamp Maryland

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