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Beaufort FHA 203(k) Rehab Loans

Beaufort FHA 203(k) Rehab Loans can combine buying a home and fixing it up in one mortgage. You and the project must qualify. HUD: eligible repairs and completed value

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FHA 203(k) loans can help you purchase and renovate, or refinance and renovate.

Purchase and renovate

Love the home, but not everything about it? Finance its purchase and eligible repairs in one mortgage. You and the project must qualify.

Refinance and renovate

Already own the home? If you qualify, refinance with eligible improvements. Keep its character.

How do I buy a house and fix it up?

A home in disrepair is not automatically eligible. HUD: eligible repairs and completed value

You choose a contractor and ask for a written estimate that lists the work and costs. Share it with your lender.
For Standard 203(k), a HUD consultant prepares the work plan and cost estimate. You and the lender review the scope before closing.
The lender checks whether you, the home and the project qualify. An appraiser estimates the home's value with the planned repairs complete.
At closing, the seller is paid. Repair funds enter a lender-held account called escrow. The lender releases payments under the loan's work and inspection rules.

FHA and lender rules apply; repairs do not guarantee equity. HUD: Standard and Limited 203(k) HUD: June 2026 repair-fund rules

What repairs can the loan cover?

Review your inspection and work list with the lender. Eligible repairs can include: HUD: eligible repairs and completed value

Roofs, gutters, windows and floors
Heating, cooling, plumbing and wiring
Kitchens, baths and access improvements

Should I use Standard or Limited?

Cost alone does not decide the path. HUD: Standard and Limited 203(k)

Standard: Can cover major or structural work. It has a $5,000 repair minimum and needs a HUD consultant.
Limited: Allows eligible minor, non-structural rehab up to $75,000.

Ask your lender what contractor experience, insurance and proof of local licensing it needs. Confirm the required permits before work starts. HUD: eligible repairs and completed value

Could I buy a duplex, fix it up and live in one unit?

An eligible duplex, triplex or fourplex can combine purchase and approved repairs through FHA 203(k). You live in one unit as your main home. Standard or Limited may fit, depending on the work. HUD: eligible repairs and completed value

Start with an existing, legal two-to-four-unit home. The lender checks the property and your repair plan.

Rent from the other units may help with ownership costs and qualifying income. The lender checks rental records and the appraisal; it does not simply subtract rent from your mortgage payment.
For a triplex or fourplex, the lender must test the property's estimated rents against its housing payment. You also need at least three months of housing payments in reserve after closing.
Keep room in your budget for vacancies, upkeep and repairs. Rent is not guaranteed.

HUD: occupancy, rent and reserve rules

How do I refinance my house and fix it up?

Want to improve the home you already love? Both Standard and Limited 203(k) can work for a refinance, if you and the project qualify. HUD: eligible repairs and completed value

Standard suits major or structural work, with a HUD consultant to help plan the repairs.
Limited suits minor, non-structural work, such as new floors or heating. The cost limits and consultant rules above apply to refinancing too.

HUD: Standard and Limited 203(k)

You get the contractor's written estimate and share your repair plan and current mortgage details with the lender.
The lender reviews your finances, the home and the work. An appraiser estimates the home's value after those repairs.
At closing, the new loan pays off your existing mortgage. Repair funds go into escrow, rather than unrestricted cash in your pocket.
The contractor completes the approved work. The lender releases payments under the loan's draw and inspection rules. Ask how those rules fit your project before signing.

The contractor and permit checks above apply here too. Compare the new mortgage payment and closing costs before choosing to refinance. HUD 203(k) guide HUD: June 2026 repair-fund rules

What costs should I plan for?

What belongs in the repair budget?

Agree on the current fund-release schedule with the lender and contractor. Budget for: HUD: June 2026 repair-fund rules CFPB Loan Estimate guide

Down payment for a purchase, closing costs and mortgage insurance
Approved repairs and any required reserve
Consultant, permit and inspection fees
Housing costs if you cannot move in during repairs

What is Beaufort County’s FHA mortgage limit?

HUD lists these 2026 Beaufort County base mortgage limits. These apply to the loan, not a repair allowance or home-price cap. Have the lender check the unit count, loan year and 203(k) calculation. The home and borrower still need approval. HUD: 2026 county FHA limits

One unit: $638,250
Two units: $817,050

What local checks could change my repair plan?

Can I make the exterior changes I want?

The City of Beaufort publishes historic-district boundary maps. Check the home's status before choosing windows, roofing or porch materials. Ask city staff which historic approval your plans need. The contractor should price those approved materials. Beaufort: historic district maps and review Beaufort: subdistricts and review schedule

Which local office handles this home?

Port Royal keeps its own list of designated historic properties and has its own building office. A Beaufort approval does not cover Port Royal. Use the property's location, not just its mailing address, to find the right office. Port Royal: designated historic properties Port Royal: permits and inspections

Could flood risk change my repair budget?

Check the home's flood map and elevation record before pricing the work. In the City of Beaufort's regulated floodplain, repairs at 50% or more of the structure's market value can trigger added flood-safety requirements. Land is excluded; city staff decides how the rule applies. Beaufort: flood map and zone request Beaufort: floodplain improvement rules

Which repairs need permits?

Beaufort lists interior paint, flooring and cabinets without plumbing as possible permit exemptions. Plumbing and window-opening changes can need review. Have your contractor confirm the permits for your actual work with city staff before it starts. Beaufort: repair permits and applications

Which other loan options should I compare?

Still buying and repairing?

Compare broader renovation financing if FHA 203(k) does not fit the property or work.

Already own the home?

Want to keep your first mortgage? Compare equity financing with refinancing. CFPB home equity comparison

The people behind your next step

Meet the Beaufort Lending team

Beaufort Lending is a mortgage broker in Port Royal, helping buyers across South Carolina. We shop loans from wholesale lenders, then help you compare payments and closing costs. Our team explains your choices in plain words and helps you see what fits your budget. From your first questions to closing, you have people to turn to for help.

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What else should I ask before making an offer?

Does Beaufort historic review always mean a full board hearing?

Beaufort’s minor form covers like-for-like repairs, including roofing, siding and windows. It also lists modifications to non-contributing buildings in the Conservation Neighborhood (Northwest Quadrant). It asks for the address, parcel number, historic status and work summary with specs or photos. City staff may send an administrative case to the board. Planning decides the review path. Beaufort: minor historic review application Beaufort: major historic review checklist

Are city permit categories the same as FHA repair limits?

Beaufort separates building projects above and below $50,000, with the number of trades shaping the form. Smaller jobs can still need building-code review. This city threshold is separate from HUD’s Limited 203(k) cap. Beaufort: repair permits and applications

Where do I find this home’s elevation certificate?

Beaufort’s Flood Certificates page groups records by address ranges and lists separate garage records for some homes. Look for the home’s own record. Ask city staff about missing or outdated records. Beaufort: address-based flood certificates

Can Beaufort help with a drainage concern?

The city offers owners help with flooding and drainage on private land. Its flood guide describes a Building Codes and Public Works site visit. Ask the seller and city about arranging that help before settling on the repairs. Beaufort: floodplain improvement rules

What else matters for a designated Port Royal home?

For a designated Port Royal property, its historic form also asks about recorded covenants that conflict with the work. Port Royal: historic project application

Sources checked October 25, 2026. Ask about current rules for your home and loan.

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Let’s review your Beaufort purchase and repair plan

Share the address, asking price, repair ideas and budget. We can discuss whether a 203(k) may fit and what to check next.

Submit Your Scenario Call (843) 524-2404 Text (843) 441-0668

Benji Gecy, NMLS #302188 · Beaufort Lending, NMLS #1703543 · Equal Housing Lender