Buying · Florida

Rehab loans

The best-value inventory in South Florida is usually the property nobody wants to look at. A rehab loan lets you buy it and fix it with one mortgage.

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What is a rehab loan?

A rehab loan finances the purchase price and the renovation cost in a single mortgage, based on the property's value after the work is complete rather than its condition today. Funds for the work are held in escrow and released to contractors in draws as the job progresses.

What it is good for, and what it is not

It is excellent for dated but structurally sound inventory — kitchens, baths, roofs, impact windows, systems. It is not a fast product: the scope of work, contractor bids and inspections all sit inside the timeline, so it does not suit a property you need to close on in two weeks.

If speed is the constraint and you already own a home, a 5 Day HELOC against your existing equity is frequently the better route.

Based onAfter-repair valueNot current condition

Funds heldIn escrowReleased in draws

TimelineLongerScope and bids add weeks

AlternativeHELOCIf you already own

Next step

Find out if this fits your file

Five minutes, no credit pull to start, and a straight answer from a licensed loan officer.

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Straight answers

Frequently asked

Can you include renovation costs in a mortgage?

Yes. A rehab loan sizes the mortgage against the property's after-repair value and holds the renovation funds in escrow, releasing them to contractors in draws as the work is completed and inspected.

Is a rehab loan slower than a normal purchase?

Yes. The scope of work, contractor bids and inspection schedule all sit inside the closing timeline. Plan for a longer escrow than a standard purchase, and do not use a rehab loan where a fast close is the deciding factor.

Often compared with

Related programs

Equity

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