203k loans, like FHA loans are only for borrowers who intend to occupy the property as their primary residence. First-time homebuyers can qualify, Investors do not. Credit Score Requirements. Because rehab loans provide borrowers with additional cash over and beyond the purchase price of the home, it’s considered a risky loan.
Can You Include Home Improvements In Mortgage With a renovation mortgage, you can get one home loan that combines the purchase price with the cost of improvements. Entry-level homes. make sure estimates are specific about materials, and.