Hello Josh- I deal with 203k's and might be able to help you. I work out of Portsmouth and Bedford.
You can do a streamline up to $35000 in home repairs. There are lists of what is not allowed under the loan program for repairs. I can forward all that info to you inf you'd like.
You can only self-perform work if you are qualified, and there are also rules as in- you cannot pay yourself labor - or sweat equity- for work that you perform on your own house. Generally, they want to see 3rd party qualified professional doing all the physical work.
If I can help further, let me know. Thanks and good luck,
Ken L.

Joshua you will want to speak with a local and trusted mortgage broker, avoid the internet brokers.... make sur ethey are fha approved so they can answer your quetsions. Try at all costs to avoid taking your equity to pay of unsecured debt. Keep the equity to make imnprovements that will bring you a higher equity after improvements are complete. If you want to read up on the fha loans go to http://www.hud.gov or even the links dunes uses. Good luck with with getting things worked out Joshua

pretty sure you can get it as long as your home is owner occupied. Call Brian Makris @ 603-821-9733