Rehab Loans
Upgrade your home and your financing.
San Diego Rehab Loans
Purchase and fix up your dream home with a rehab home loan. A rehab loan lets you include the cost of home improvements and repairs into a new home loan. Finance your homeâs purchase price and any repairs or upgrades to be made in one mortgage.
About Rehab Loans
Is a San Diego Rehab Loan Right for You?
If you want to purchase or upgrade your home, then a rehab loan might be right for you. This loan is also a good fit for those who do not want to finance the repairs themselves.
Benefits of a Rehab Loan
Streamlined Loan
Cover both the cost of your home and improvements under one simple loan.
Fix Up Your Dream Home
Donât have the capital for your renovation project? A rehab loan can help.
Affordable Home
Homes that need work often come at bargain prices. You can get yourself an amazing property for less.
Expanded Options
Find the right rehab loan whatever your home improvement project and needs.
Rehab Loan Eligibility Requirements
- Good credit score
- Down payment of 3.5% or more
- Self-occupancy of the property
- Debt-to-income ratio below 45%
San Diego Rehab Loan FAQs
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What are the two kinds of rehab loans?
The streamlined rehab loan is for minor changes to your home and the total rehab cost does not go above $35,000. The standard loan is for bigger structural changes to your home such as remodeling or even building a new house.
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Should I qualify for the purchase price like a regular home loan or the total loan amount?
Consider the total amount of funds that you are borrowing. This includes the purchase price and the cost of renovation.
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I have an existing property. Can I refinance it to a rehab loan?
Yes! Get in touch with us at National Home Loans to get that started or to learn about your options.
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