A Rehab Mortgage can be done by both Conventional and FHA Loan Programs. This program allows borrowers to do minor repairs, purchase new appliances, and do additions to properties for both a purchase or a refinance.
Loan Term Options
Rehab Home Loans can be done with 30 years, 25 years, 20 years, 15 years, or 10 years terms.
Situations Where You May Get a Rehab Mortgage
- To Increase the value of your home.
- To make minor repairs to your property like windows, painting, flooring, and etc.
- To make major repairs like additions.
- To put new appliances in the property.
Benefits of a Rehab Home Loan
The major benefit of doing a Rehab Mortgage is that you get to design and repair a property to make it your Dream Home.
Depending on what county you are in (as well as loan type) there are loan limits with a Rehab Loan. To learn more about this please call us today for a free consultation. Our Loan Officers are looking forward to assisting you with any questions you may have.