Certified FHA 203k Contractors

Great Roofing & Restoration is a certified 203k contractor in the Columbus, Ohio metro area. The 203k program is an awesome opportunity for homebuyers to purchase a property, have the needed repairs and renovations completed by a trusted contractor, and finance those costs into their mortgage. Great Roofing & Restoration has successfully completed many 203k projects. When you work with Great Roofing & Restoration, you can be confident that your project will be completed on time, within budget, and to the highest quality standards. Contact us today to learn more about how we can help you take advantage of the 203k program.

About 203k Projects

Who can complete a 203k project?

Not all contractors can complete a 203k project. For a contractor to earn 203k certification, qualifications must be met and an extensive training course is required. Throughout the 203k process there are many steps for both the homeowner and their 203k contractor. Contractors who are not certified may attempt to take on a 203k project, but oftentimes try and back out once they realize all the requirements necessary to take on a 203k project. From permits to inspections, draws to final invoicing, our knowledge of the 203k home loan process will assist you in getting your new home (or current) rehabbed.

Am I qualified for a 203k loan?

Columbus is a booming real estate city, with many opportunities to invest in a new home. From Old Town East to Grandview and many other historical districts, older homes are being refreshed all around the city. A 203k loan can helps by providing the funds to fix up a home you want to invest in, without taking money directly out of your pocket. To qualify for a 203k loan, you must meet the same eligibility requirements as any other FHA loan. You must have a steady income, a good credit score (at least 580), and a down payment of at least 3.5%. Eligible properties include single-family homes, multi-family homes, and condominiums. In order to qualify for an FHA 203k loan, the property must be at least one year old and the value of the property must be greater than the cost of the proposed renovations.

What’s the process like?

Let’s say you want to buy a $200,000 home, and want $30,000 in renovations done to it. This would qualify for a Streamline 203k loan (assuming no structural changes). Once you apply and receive approval, the bank would then allow for a disbursement of half the funds. Depending on the size of the loan for the renovations it will determine how the money is disbursed. Once the work is complete the mortgage company would do an inspection and the final total amounts would be released. Your $200,000 home, now with $30,000 in renovations, is now a $230,000 mortgage. Most renovations of this kind raise the value of the home beyond the $30,000 investment, which is instant equity for you!

If you already own your home the FHA 203k rehab loan is a great opportunity for refinancing! You can refinance, hire a 203k contractor in Columbus, and then have a full renovation done on your home.

What are the benefits of 203k to homeowners/sellers?

  • Market property to more buyers
  • Allow buyers the opportunity to renovate, upgrade or improve to suit their tastes and preferences
  • No need to settle for low-ball cash offers
  • Current condition of property not required to meet FHA’s property standards
  • Buyer is permitted to correct any property deficiencies after close of escrow
  • No more inspection concerns
  • Absolutely no repairs are required prior to close of escrow
  • Seller not responsible for cost of repairs/improvements
  • Transaction will close with property in “AS-IS” condition
  • Closing occurs in 45 days

What are the benefits of 203k to buyers/borrowers?

  • Renovate home with little/no additional out-of-pocket expense
  • Low down payment (3.5%)
  • Combine purchase/refinance + rehab funds into one low-interest, tax-deductible mortgage which is based on the improved appraised value
  • Include mortgage payments into 203k if home is not livable during renovations
  • Submit a strong purchase offer if presented properly to seller
  • Buyers face less competition from other buyers to purchase fixer-uppers, foreclosures or older homes that are outdated
  • Better opportunities for “good deals” on home purchases
  • Ability to purchase properties that may not meet FHA standards and complete the repairs/improvements AFTER the home is purchased.
  • Select from a larger selection of properties for sale (in any condition), including condos, townhouses, mixed-us, multi-family, single-family dwellings and those that do not currently meet FHA standards

When offer is presented properly to seller, 203k offers may be advantageous in a competing offer situation as the seller does not have to fix-up or repair the property but instead allow the buyer to include these items into their 203k mortgage and complete the improvements after closing using the buyer’s own style and design.

More FAQ’s

For a complete list of FAQ’s visit the 203k Contractor website! Great Roofing & Restoration is a certified, trusted contractor when it comes to 203k loans. We’re here to answer any additional questions you have. To schedule a free inspection today, fill out the form below.


From start (Roof inspection), to finish (Complete roof repair, down to the a-frame) including clean up the job was done to perfection. Jonathan also handled all aspects of dealing with the insurance company. Any questions I had were answered with a returned call from Jonathan, regardless of time of day, he was professional and quite personable, as I told Cassie, I would invite Jonathan to the Family Thanksgiving Dinner. I would, and I will refer Great Roofing to friends and family.
Ellwood Hare
Ryan has been working with me for months to get insurance approval for our ice-dammed roof. Just got the new roof up this week. The team did an amazing job. The roof looks great, all the mess from construction was quickly cleaned up and left the yard / landscaping looking exactly like before they came. Very happy with the quality work Ryan and his team delivered.
Geoff Henry
Bahman and the team at Great Roofing were able to quickly help us get a new roof on prior to closing on a home. The roof looks fantastic and the job was complete at light speed. They were able to work with multiple parties on a ridiculously tight timeline to get the work done but not sacrifice quality. Everyone involved was shown a tremendous level of respect and attention, ensuring the roof met specifications and satisfied us. I highly recommend using them, we will be back for any future projects.
Alexander Kendall