What Types Of Properties Are Eligible For The FHA Rehab Loan?
The eligible properties for the FHA rehab loans are single family dwellings, condominiums, townhouses, mixed use dwellings such as homes that are attached to mini stores, one to four unit buildings and you can increase or decrease the number of units with the FHA rehab loans as well.
The types of FHA loans are 30 to 15 year fixed rate FHA rehab loans and one year ARMS which are adjustable rate mortgages. The eligible borrowers for the FHA rehab loans are owner occupants for purchase or refinance and non-profit organizations. Investors are not allowed to qualify for FHA rehab loans because they are making a profit and reselling the dwelling.
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