Look into 203k loans. Those are FHA-insured loans that combine an amount for the mortgage with an amount for rehabbing. Here’s a link: http://www.hud.gov/offices/hsg/sfh/203k/…
Sounds like the ideal solution for you.
Hope that helps.
Landlord said on 02-11-2009
It is doubtful, as they are harder to qualify for. You also need a much larger down payment, in the neighborhood of 30%.
Look into 203k loans. Those are FHA-insured loans that combine an amount for the mortgage with an amount for rehabbing. Here’s a link: http://www.hud.gov/offices/hsg/sfh/203k/…
Sounds like the ideal solution for you.
Hope that helps.
It is doubtful, as they are harder to qualify for. You also need a much larger down payment, in the neighborhood of 30%.