rehabilitation mortgage

Definition of "rehabilitation mortgage"
  1. A loan which includes the expenses of both purchasing a home and its associated repair or improvement costs
How to use "rehabilitation mortgage" in a sentence
  1. The old, damaged house was bought with a rehabilitation mortgage, allowing the owners to renovate it immediately.
  2. A rehabilitation mortgage simplified the purchase process for them by combining both the house and renovation costs into one loan.
  3. Purchasing a fixer-upper can be made effortless with a rehabilitation mortgage that bundles all the costs.

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