Shilo Zitting in Salt Lake City | Rehab & Repair Loans
page-template-default,page,page-id-7,ajax_fade,page_not_loaded,,qode-title-hidden,qode-theme-ver-11.2,qode-theme-bridge,wpb-js-composer js-comp-ver-5.2.1,vc_responsive

Home Rehab/Repair Loans

Looking for a home loan that can finance improvements? If you’ve found the ideal fixer-upper in Utah, or are interested in adding a new kitchen or bathroom to your current home, this could be the answer. This flexible rehab loan allows you to make repairs or rehabilitate a property with just one mortgage, saving you from the hassle and additional costs of applying for multiple loans . Purchase or Refinance… the option is yours. The extent of the rehab covered may range from. anything minor of $5k to virtual reconstruction!

An example of some expenses eligible can include:

  • Materials, labor, contingency reserve, overhead and construction profit
  • Up to six (6) months of mortgage payments for non-habitable
  • Expenses related to the rehabilitation such as permits, fees, inspection fees by a qualified home inspector, licenses and consultant and/or architectural/engineering fees
  • Painting, room additions, decks, detached garages
  • Structural alterations and reconstruction
  • Modernization and improvements to the home’s function
  • Elimination of health and safety hazards
  • Changes that improve appearance and eliminate obsolescence
  • Reconditioning or replacing plumbing; installing a well and/or septic system
  • Adding or replacing roofing, gutters, and downspouts
  • Adding or replacing floors and/or floor treatments
  • Major landscape work and site improvements
  • Enhancing accessibility for a disabled person
  • Making energy conservation improvements
  • Available on Purchase or Refinance transactions
  • Investment properties qualify as well