A renovation mortgage program that provides a convenient and economical way for borrowers considering moderate home improvements to make repairs and renovations with a single close first mortgage, rather than a second mortgage, home equity line of credit, or other, more costly methods of financing.
Key Features of the Rehab Loan
One time construction loan
Purchase and refinance loans available
Primary residence, second home and investment properties possible
Unfinished homes and condominiums
HUD consultant is required for inspections