Deferred 203K financing?

Was wondering if anyone knows if 203K financing can be deferred to a later timeline point…so as not to have repair/construction estimates completed at time of closing.

Property in question would not have much equity…thus, as opposed to home equity financing I’d like to 203K but don’t know if 203K allows for gathering of costs and putting together of the loan…after the closing date period.

Any thoughts?


203 k loans require the repair costs to be escrowed. This means the total repair estimates are completed prior to the loan closing.


Thanks for the reply.

I’m still a little unclear as to what this means.

Let me rephrase…

Let’s say someone wants to get an FHA home loan mortgage.

In addition, they want to get a 203K repair/construction loan.

However…let’s also say that from time of offer on the property to closing date on the property, the time period is only something like 30 days.

My question is whether buyer can then do a 203K loan >after< the closing date of the initial FHA home loan mortgage.

I’m aware that funds need to be escrowed…just would like to know if the primary FHA mortgage and the 203K can be split into two different time periods so as to give buyer more time to come up with how he/she wants to wrap construction/repair costs into the project.


I think you’re a little confused about what a 203k loan is. The 203k loan is a one loan closing. It differs from the 203b in that the total loan value is acquisition + repair costs.

It’s not two seperate loans and as such you cannot get a 203k loan after closing. If someone is purchasing a home using an FHA mortgage they only get one loan.

Would a 203b…be more suitable for what I’m trying to achieve…re: stretching out of the timeline in two separate loans?


203b loan is just your standard Fixed Rate SFR home loan. It wouldn’t help you in this instance I don’t believe.