Zillow Advice: Home Buying - can i get amtg that will allow for repairs to the home...needs alot of work, what type of mtg

Ms. Kirk is right on target, ...

Tue, 16 Jun 2009 01:04:00 GMT

Ms. Kirk is right on target, the FHA 203-K loan program allows you to borrow not only to purchase the property, but also, to borrow the amount of money to help rehabilitate the property. It does have a few flaming hoops to jump through, but the program is certainly worth the extra effort. Coincidentally, FHA borrower requirements are a bit lower than requirements for Fannie or Freddie products, so you have a much better chance of qualifying for this product. I wish you luck in your project and I hope this helps you! Jim

There is a loan called the ...

Mon, 15 Jun 2009 23:40:00 GMT

There is a loan called the FHA203K loan.
This is specifically for houses that need a LOT of repair/rebuild.
In terms of your personal qualifications, that would have to be done by a mortgage person.
If you would like a qualified mortgage professional who is proficient in FHA203K loans, please let me know and I would be happy to share that information.
Thanks!
Sincerely,
Marney Kirk
Keller Williams Excellence Realty