How can I get financing for an old run down house?
grn_4tx asked:
We found our dream house after a year of looking,it needs work but that’s not the problem. The house will not pass ( do to need of leveling , paint and other possible issues ) for an FHA or USDA loan. We want to do the work ourselves so an FHA Rehab loan is out of the question and we don’t have 20% to put down for a conventional loan. The house will be beautiful with a little work. Does anyone have any creative financing ideas or advice.
Ricardo
We found our dream house after a year of looking,it needs work but that’s not the problem. The house will not pass ( do to need of leveling , paint and other possible issues ) for an FHA or USDA loan. We want to do the work ourselves so an FHA Rehab loan is out of the question and we don’t have 20% to put down for a conventional loan. The house will be beautiful with a little work. Does anyone have any creative financing ideas or advice.
Ricardo
Tags: Conventional Loan, Creative Financing, Creative Ideas, Fha Loan, Paint
August 2nd, 2009 at 2:23 pm
The only other option would save as much as could because the rehab loan if you sure you dont want fha 203b loan if youre still against savings thats really it good luck.