What is FHA Renovation Financing “Rehab Loans” , How Does it Work & The Benefits?

What is Renovation Financing “Rehab Loans” & How Does it work? – What are the Benefits to the Lehigh Valley Home Buyer?

What is Renovation Financing?

  • It is financing will all the fixings
  • The money to purchase a home
  • The money to repair, upgrade or remodel
  • All in a single first mortgage transaction
  • FHA Programs Available – FHA 203K Streamline, FHA 203K Standard

How Does Renovation Financing Work?

  • Loan amounts are based upon AFTER IMPROVED property values
  • Estimates of repairs and/or other improvements are determined prior to closing
  • home purchase closes in AS IS condition
  • Home Buyers make improvements AFTER closing (4 to 6 months)
  • Renovation costs are spread throughout the mortgage term

What are the Benefits of Renovation Financing? for the Home Buyer “Borrower”

  • Choose a great lot or neighborhood and create their dream home.
  • Take advantage of market opportunities with “Handyman Specials”
  • Stay within certain school districts, but gain modern amenities
  • Make Energy Efficient Upgrades
  • Build Instant Equity

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