The latest OHFA Ree: the fresh new FHA 203(k) loan Permits members to mix home loan and you will renovation can cost you on the you to definitely long-name, fixed-price financial so they can afford the pick and you may rehab out of their fantasy house. The entire mortgage number tend to be the cause of the fresh new estimated value of the property just after most of the work is done, as well as labor costs. RenovateOhio has a few extra fine print than the OHFA applications listed above. Along with that have a credit rating over 640 and you may fulfilling money and you may debt-to-income proportion restrictions, the house have to be a single- so you’re able to five-home which had been built for one or more year.