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Trying to buy an older home needs some work. whats best loan type

I was speaking with the bank about fha but the house has to meet an inspeaction and pass it? Not sure that wud happen. Definitely a fixer upper and I want to install central air. Confident I will get approval but maybe not the property itself with fha
By arg0.nina784623898 from TX Sep 23rd 2014
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You can still go FHA, ask the LO about FHA 203K rehab loans. There are two types and it depends on the cost of the repairs which will determine the best approach. But basically if all the upgrades are $35K or less than you can go the streamline route greater than the $35K the process become a bit more cumbersome. Just know the 203K program is slower to close and takes patience to get through the process. Good Luck!

Sep 23rd 2014

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We offer both FHA and Conventional Renovation Mortgages that could easily handle this issue for. I would happy to help. As a Texas based mortgage banker, my team has concierge service for this program. Give me a call at (972) 661-5136

Sep 23rd 2014


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