"The Housing Code is a set of local government ordinances that establish minimum standards for safety and sanitation in existing residential buildings. These regulations ensure that living conditions in older buildings remain safe and habitable for tenants. Housing Codes typically address structural soundness, pest control, and basic living necessities like running water and heating, contrasting with Building Codes, which apply to new construction."
A rehabilitation mortgage is a unique kind of loan designed to cover both the purchase price of a property and the costs associated with its repair or improvement. The FHA’s 203(k) loan is a popular example of this type of financing.
