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Hello Jason......
The type of loan you are referring to a "renovation" loan and they do exist, conventionally. The loan is based on the cost of the house + the renovation costs OR the after repair value. If the property will be your personal residence, we can help you with this type loan.
If you are interested, let me know directly (not through the group) at [EMAIL PROTECTED]. Our Low to NO closing cost funding option is not available under this program becasue I don't use company money to fund the loan... sorry.
Dallas Allbritton
Branch Manager
Family First Mortgage
"No is Never An Option"
615-361-1738 Office
615-361-1408 Fax
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-------Original Message-------
Date: 06/09/05 01:50:40
Subject: Re: [RealEstate] Need Lending advise
only way to do that would be private, unless you firgure some way to have a GC involved and build the interest into his contract via 203K money and have him make payments while rehab is done, your best bet is to start looking for some private money
----- Original Message -----
Sent: Wednesday, June 08, 2005 1:24 PM
Subject: [RealEstate] Need Lending advise
I am looking at purchasing a REO home in Georgia that needs some work. I would like to purchase the property and rehab for my personal home, but need a loan that will only require an initial downpayment, then no other payments until the rehab is complete and the home is ready to move in. I know this type of loan exists on construction loans as a friend just did this when he built his home, but I'm wondering if it is available for rehabs? Any thoughts or suggestions?
Thanks
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Apply for Commercial Real Estate loans online and submit your deal to dozens of hungry lenders in just minutes. Loan programs for all types of business and commercial real estate. Apply anytime at http://realestatezoo.com
RealEstate
Part of RealEstateZoo.Com
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