An FHA 203(k) Loan, also called a Renovation Loan, allows buyers to finance the cost of the home and the renovation in one mortgage with a low rate.
The VA also offers a similar option for military and veterans to purchase a home and finance the required renovations to bring it up to standards set by the VA.
Rehab loans have similar qualification requirements to a standard FHA or VA loan, with additional documentation needed related to the renovation.
Have questions? Give us a call! One of our mortgage specialists would be happy to answer all of your questions.
**TrustMor Mortgage Co. is not affiliated with or acting on behalf of or at the direction of FHA, VA, USDA or the Federal Government.