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Is it possible to get a fha loan on a fixer upper home?

  • January 30 2012 - Martinez
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Answers (7)

Home Path by Fannie Mae is a great source... the agent should know the condition of the house prior to listing and or selling it's not all on the appraiser.
  • February 08 2012
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Profile picture for Andy Carlton
Sure is!  Programs like Home Path by Fannie Mae allow an allotment for fixing up the home even before it's finished.  Check out homepath.com for more information.
  • February 08 2012
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Profile picture for magiroux
Appraisers should weigh in on this also. They are the ones that can kill an FHA loan if there are problems with the property.
  • February 08 2012
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Tough but very possible. There are some great programs like the FHA203k out there.
  • January 31 2012
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As previous pros mentioned, the FHA 203k loan is the way to go.

I have a connection in the Contra Costa County area (Walnut Creek, actually) that you can meet with if you want to pursue and get qualified. Let me know if you are interested.
  • January 31 2012
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It definitely is. It depends on what needs to be fixed however, there are some levels of disrepair that will make the house not lendable.

There is also an FHA rehab loan program, the 203k and 203k Streamline. This will actually allow you to finance the balance of the of the rehab work (up to a certain point).

Let us know if you have any more questions or need any specifics.

Sincerely,
Greg

  • January 31 2012
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Absolutely. You should contact a lender and ask about an FHA 203k loan.
  • January 30 2012
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