James Adamson

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NMLS ID 455833

1912 Liberty Road Suite 20 Eldersburg, Maryland 21784 | Map & Directions

Office: (443) 372-1741 • Cell: (301) 717-6272 • Fax: (443) 787-0227
Email: james.adamson@lionbank.com

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FHA 203(k) & Renovation Loans
Call me today for information about an FHA 203(k) loan!

FHA 203k Loans MarylandFidelity Bank offers four loan programs designed specifically to meet your renovation goals.

FHA 203(k) Streamline & Full is HUD's "home improvement loan." This product finances the purchase price and repair costs into one loan. If you need a renovation loan or construction loan in Maryland call or email us today.

The approval process for a 203(k) loan is complicated. So it helps to have a lender partner who "knows the ropes."

Here are some reasons to call me when you are considering applying for a 203K loan:

  • FHA-approved to offer 203(k) loans
  • Have closed over 1000 of them
  • Long-standing working relationship with an approved HUD Consultant
  • Work closely with my borrowers during the loan approval process and the repair process
  • Offer the refinancing when the repairs are complete
  • Offer a rapid response-time for closing the loan
  • We offer Full & Streamline 203ks

The HUD Consultant must approve the repair work write-up and oversee repairs on properties being renovated using full 203(k) loan.

203(k) borrowers must be credit-worthy; the file is underwritten using today's underwriting criteria. Some down payment assistance programs may be combined with 203(k) loans.

Eligible property types include:

  • Condos
  • Townhouses
  • Single Family Homes
  • Multi Family
  • Mixed Use (storefront)

Here's a partial list of what you can do with a 203(k) loan:

  • Flooring: tile, carpeting, wood
  • Landscaping: removal or addition of trees, plants, flowers, grading, repair of driveways and walkways, patios
  • Painting: interior and exterior house and other structures on the property
  • Bathrooms: enlarge, replace flooring, appliances, fixtures, cabinets
  • Basement: finish, add bedrooms, baths, family room, wire for entertainment system
  • New Additions: bathrooms, bedrooms, family room, sun room
  • Upgrades: thermal windows, insulation, solar panels, new doors, energy efficient appliances
  • Conventional Loan
  • Repairs can be up to 50% of After Repaired Value
  • Primary residences, second homes, or investment properties
  • Can include structural improvements
  • 95% financing available on Owner Occupied
  • 85% financing on Investment Property
  • Loan Amount up to $2,000,000
  • 90% LTV on primary homes
  • A great option for a jumbo renovation such as footprint renovations, complete teardowns and modernizing without square footage addition
  • Current mortgage is combined with renovation costs
  • Pay closing costs once with our One-Time-Closing
  • 9 and 12 month construction phase with interest only payments
  • Fixed, 5/1 and 7/1 ARM loans available
  • Improvements up to $35,000
  • Allowed 6 months to complete improvements post-closing
  • Primary residence only
  • Can not be used for structural changes
  • For repairs and improvements up to $10,000
  • Allowed 2 weeks to complete improvements post-closing
  • Great for applilances, painting, carpet, minor repairs, plumbing etc.


Also ask about our Conv Homestyles Renovation Loan!