203k LOANS may work for you.
*203k Purchase loans can be used to buy those homes that need repairs to qualify for financing.
The Streamline 203k is for the repairs needed such as carpet, paint, appliances, granite, minor repairs between 5k and 35k and can close within 45 days.
If there is more extensive repairs above 35k, you will have to go with standard 203k which can fund the loan with up to 6 months without payments during the renovations.
- You can buy a fixer-upper or REO that needs renovation.
- You can get funds to purchase and upgrade your dream home.
- You can refinance and renovate your existing home.
Loan amount based on the home value including renovations
Only one loan needed to both purchase and improve or Refinance and rehab your own home.
Can be used to buy property otherwise not eligible for financing
The minimum fico score required is 580 and 3.5% down FHA financing. I specialize in Under 640 Fico Score Loans and offer credit repair at no cost to raise fico scores to qualify. It only takes a few dozen questions to qualify and go over your options...