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ARE "REHAB" LOANS EXTINCT?

By
Mortgage and Lending with H&R Block

Hi everybody out there! Yup, I'm looking for answers again! I need to pick your brains again! I know the best minds in the industry are all here on Active Rain, so it's the best place to post a blog in order to get the best answers! I have a woman who is interested in purchasing a home that needs some updating. She's being difficult and REALLY has her heart set on this one home. She has an 819 FICO!!! I've only seen one so high a few times in my career and I'd love to be able to work with her! Does anyone know who will still do a rehab loan? I need to sign up with them NOW so I can get her show on the road!! Oh, and I might add that the home is in livable condition, but just needs some updating. What can we do?????

Thanks guys & girls!

Comments (4)

April Hayden-Munson
Brookfield, WI
Brookfield Wisconsin Real Estate
Will FHA work?  Is she going to be an owner occupant?
Apr 28, 2008 08:28 AM
Audrey June-Forshey
RE/MAX Realty Services - Darnestown, MD
GRI, Gaithersburg, MD
Call Jason Sardi, he just did an excellent post about different Rehab loans.  He will point you in the right direction!
Apr 28, 2008 08:32 AM
Juan Boldizsar
Belleville, IL
M & T is one of the few remaining players in that area.  From what I've seen they still offer the conventional/conforming reno programs as well as the 203(k) on a wholesale basis. 
Apr 28, 2008 08:52 AM
Tami Walsh
Peoples Community Mortgage - Fredericksburg, VA

I can do them as well, and if she is o/oc FHA is an easy one.

May 21, 2008 07:45 AM