What is a “Rehab” Loan?

FHA Financing for San Diego home

Have you seen your potential Dream Home but worried about the cost to repair?

FHA offers the 203(k) loan  which enables a homebuyer to purchase a house in need of repair or modernization by providing funds for the rehabilitation.

As an alternative to conventional financing, the FHA offers a chance for buyers to obtain only one mortgage loan, ata long-term fixed or adjustable rate, to acquire and rehab the property. The mortgage amount is based on the projected value of the property with the work completed, taking into account the cost of the work.

Let me match you with a lender that can help you turn that Shack into your Castle.

Dee Marie Fisher

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