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What is a repair loan, restrictions and which banks are offering it?

Hi there,

I'm looking for help and more information on repair loans, we are looking at a property that had been fire damaged. When I called the bank they told me that I will have to take repair/reconstruction loan, it was WF Bank. In any case, can anyone explain to me the possibility of such a loan, requirements of the contractor and terms. At the same time which banks are offering them.

Thanks a lot,
Jerry
  • January 29 2009 - New Britain
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Answers (1)

Profile picture for Rob Cochems
Your best bet is probably an FHA 203k loan, which can be offered by most lenders.

However,  what is the cost of the property you are looking at?
  • January 29 2009
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