Home rehab loans give you the chance to fix up a home and earn a lot of instant equity in the process. Only a select few are qualified and approved to lend money for the 203(k) program for home rehab loans. So, take a few moments to speak with a lender who specializes in home rehab loans and learn the details about the program that you would qualify for. The 9 basic steps to home rehab loans | discoveryarticles. You want to make sure you deal with a lender who specializes in home rehab loans and understands the fha 203(k) program. However, if you work with a lender who specializes in home rehab loans and the fha 203(k) program specifically, then you can limit your down payment to 3. For more information about the fha 203(k) program or home rehab loans in general, go to www. chicagorehabloans.com.