203k Loan & Whole House Rehabs in Detroit, MI

203k Home Renovation Detroit MI

Detroit Build is a remodeling contractor assisting new home buyers in the Detroit area renovate their dream homes with a FHA 203k loan for home construction/remodeling. Whether it's painting, new appliances, storm windows and doors, or basement remodeling, Section 203k loans enables homebuyers and homeowners to finance up to an additional $35,000.00 of repairs for updates and improvements into a single mortgage.

Fluent in 203k construction loans, we take great pride in helping homeowners, mortgage brokers, and real estate agents through the rigorous renovation process. Detroit Build provides 203k rehabs, whole house renovations, kitchen remodeling, bathroom remodeling, and every room in between. Is a 203k loan right for you? Learn about how you can finance a complete home transformation with our help!

Together we can rebuild and revitalize Detroit!

Detroit Build is excited to be a part of the rebirth and revitalization of Detroit and the surrounding areas, and there is nothing we like more than restoring some of the amazing homes around the city back to their former glory. We specialize in using creative designs that will take the home into the 21st century or restore the classic features from when the home was built. No matter your preference, we're here to facilitate every aspect of your complete home rehab!

203k Loan Detroit MI - Home Renovation - Detroit Build - 2031203k Rehab Mortgage Insurance for Your Detroit Home

If you're having difficulty finding the perfect house for you and your family, you've come to the right place. The Section 203(k) Loan, backed by the federal government, enables homebuyers and homeowners to finance both the purchase of a house and the cost of its rehabilitation through a single mortgage -- up to an additional $35,000 of repairs. It can even be used to make accessibility upgrades for persons with disabilities.

Getting Started With Your 203k Loan

The first thing you want to do is find a property that is "almost" your ideal home. Then when you are ready to submit an offer it should state you are seeking a 203k home loan for the improvements that are necessary. After that you need an approved FHA 203k lender who will help you with a proposal that puts together a detailed and approved format that shows the cost of labor and materials for each improvement and repair. The contractor that is chosen by you and lender is the one that puts this information together after working with the home buyer and lender.

As long as the repairs and improvements are below $35,000.00 including contingency and the property cost to be owner-occupied, then the buyer is eligible to use a streamlined loan. Your lender will determine the new loan amount with the equation: below the cost of repairs and improvements + the purchase price = new loan amount or up to 110% of the after improved value (whichever is less). At this point, your lender will have the property reappraised to reflect the increase in value to the property after the repairs and improvements are completed.

Before and After:

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FHA List Infractions -- FHA Items for 203k


  • Open wires
  • Open plumbing
  • Drywall holes
  • Unfinished flooring
  • Cracked windows
  • Peeling paint
  • Sink/faucets - hooked up?
  • Cracked tiles
  • Mold
  • Water in basement
  • Rotted wood
  • Water damage
  • GFI's
  • Missing doors/knobs
  • Missing kitchen/vanity
  • Roof
  • Unfinished siding
  • Trip hazards
  • Handrails
  • Tuckpointing on chimney or porch

Other Items Often Chosen:

  • Paint
  • Hot water tank
  • City certification
  • Carpet/tile
  • Furnace & A/C
  • Windows
  • Appliances
  • Granite
  • Downspout extensions
  • Screen doors/ext doors
  • Kitchens
  • Roof/gutters
  • Hardwood floor refinished

Hear what our customers have to say about their experience with Detroit Build!

"We've hired Detroit Build for projects over the past several years with great results. Last year we found a potential dream home in Rochester Hills that needed a complete overhaul. We were really overwhelmed after looking at it. I called Seabrook and asked if he could look at the house with us and give us his opinion. He was there that day! Seabrook was able to give us an estimate on the spot for the entire project. The real estate agent was with us, agreed with his assessment and ultimately the owners came down $160k off the price. We bought the house, DB had the work done well ahead of schedule and came in under budget, even after fixing quite a few things the inspector missed. The house looks amazing and we couldn't be happier. I've recommended DB to a lot of friends over the years and will continue to do so. Thanks guys."

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Zac N.

Does a 203K loan sound like it's right for you? If so, you can schedule a walkthrough today or contact us to learn more. We look forward to helping you create your dream home!