FHA 203k loan home condition

[Jeff Parkan]

Hey everyone, I have a few quick questions.

What is considered to be appropriate renovations for a FHA 203k? Could it be used to just update a old retro home that hasn't been touched since the 60's or is it for legit repairs? Can i use any contractor to do the work? If Im in orange county and the FHA limit is $625,000 ( i think), is the value of the loan for the cost of house and sum of repairs to that limit or could it be $625,000 + repairs wrapped into the loan?

Thanks BP forum!