Zillow Advice: Mortgage - Can I get a conventional mortgage and pay cash for the renovations instead of a 203k loan? http://www.zillow.com/advice-thread/Can-I-get-a-conventional-mortgage-and-pay-cash-for-the-renovations-instead-of-a-203k-loan/510730/ Zillow Advice | Zillow Real Estate 203k loan is a program that ... http://www.zillow.com/advice-thread/Can-I-get-a-conventional-mortgage-and-pay-cash-for-the-renovations-instead-of-a-203k-loan/510730/ 203k loan is a program that enables you to purchase a home and finances certain upgrades and repairs as part of your mortgage. Work with a consultant who can evaluate the property if it qualifies for the 203k. Sun, 20 Oct 2013 12:36:00 GMT http://www.zillow.com/advice-thread/Can-I-get-a-conventional-mortgage-and-pay-cash-for-the-renovations-instead-of-a-203k-loan/510730/ 2013-10-20T12:36:00Z You are not limited to a ... http://www.zillow.com/advice-thread/Can-I-get-a-conventional-mortgage-and-pay-cash-for-the-renovations-instead-of-a-203k-loan/510730/ You are not limited to a 203K loan for renovation.&nbsp; Conventional renovation loan programs exist.<br/><br/>I know of no lender that will close on a home in need of repair without the loan being a renovation or construction loan.&nbsp; What is the status of the septic system?&nbsp; HAs it failed Title V? Tue, 10 Sep 2013 23:43:00 GMT http://www.zillow.com/advice-thread/Can-I-get-a-conventional-mortgage-and-pay-cash-for-the-renovations-instead-of-a-203k-loan/510730/ 2013-09-10T23:43:00Z Most lenders will not lend ... http://www.zillow.com/advice-thread/Can-I-get-a-conventional-mortgage-and-pay-cash-for-the-renovations-instead-of-a-203k-loan/510730/ Most lenders will not lend if the house is not in livable shape now.&nbsp; You may have to see if any Banks or Credit Unions have a portfolio program that they would be willing to work with you.&nbsp; Tue, 10 Sep 2013 20:19:00 GMT http://www.zillow.com/advice-thread/Can-I-get-a-conventional-mortgage-and-pay-cash-for-the-renovations-instead-of-a-203k-loan/510730/ 2013-09-10T20:19:00Z I have seen deals like this ... http://www.zillow.com/advice-thread/Can-I-get-a-conventional-mortgage-and-pay-cash-for-the-renovations-instead-of-a-203k-loan/510730/ I have seen deals like this go through. Your lender will have a discussion and the approval process may be a bit longer. I would recommend talking to a local (community bank) lender. When putting 20% down you should be in a position where there will not be loan conditions related to the condition of the home. Tue, 10 Sep 2013 17:36:00 GMT http://www.zillow.com/advice-thread/Can-I-get-a-conventional-mortgage-and-pay-cash-for-the-renovations-instead-of-a-203k-loan/510730/ 2013-09-10T17:36:00Z