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Frequent Contributor
Posts: 293
Registered: ‎01-12-2012
0

Will. They give you money to fix up house

So if a house is 35000 need some work can I get a loan for 60000 so I have the money to fix it up? I could afford that with my eyes closed and even put 10 percent down. Wouldn't it be easy to get financed for that even with not to great credit?
Equifax my fico 629
Transunion my fico 669
Experian fako 663
New Contributor
Posts: 58
Registered: ‎08-08-2011
0

Re: Will. They give you money to fix up house

You may want to look into a FHA 203K loan. Its a rehab loan. Some lenders have experience with them and some don't.

Valued Contributor
Posts: 1,863
Registered: ‎09-20-2011
0

Re: Will. They give you money to fix up house

FHA 203K is designed exactly for this. It's a good bit more involved than a typical loan and finding a LO with experience in it will be invaluable. 

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