Rehabilitation Loan

A Rehabilitation Loan refers to a financial product specifically designed to fund the renovation, repair, or improvement of a property. These loans are often used by homeowners or real estate investors to rehabilitate older or distressed properties that require significant upgrades to improve livability, safety, or market value. Unlike traditional home loans, which primarily finance the purchase of a property, rehabilitation loans include the costs of repairs or renovations in the total loan amount. This allows borrowers to access funds upfront for both the purchase and the rehabilitation work, streamlining the financing process.