How can I get financing for an old run down house?
Friday, July 31st, 2009
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