Converting a property from one unit to up to four units, or the reverseThe FHA’s maximum loan limit for the county where the property is locatedGenerally, the most you can borrow for the loan is the lowest of the following:A 203(k) renovation loan can be a 15- or 30-year fixed- or adjustable-rate mortgage. The amount you can borrow depends on criteria such as your credit rating and income. The total amount borrowed through 203(k) loans must be within FHA loan limits for the area in which the home is located ...