Posted by jean on July 17, 2006 at 16:08:05:
Patrick, Would this be a conventional lender/bank? I
have good credit and wondered about conventional financing. So I could finance the purchase even on a rehab? Thanx, Jean
Financing Scenarios - Posted by Steve
Posted by Steve on July 13, 2006 at 11:19:31:
I have a house that can be bought for about $60k. It needs about 30k in repairs. After repair comps show a value of about 150k. I have a 742 FICO. Will I be able to (with my credit rating) finance this with nothing down and also be able to draw on the repair funds? What would be the best way to finance this?
Re: Financing Scenarios - Posted by zach
Posted by zach on July 13, 2006 at 11:52:00:
Yes you can. There are several programs that will fund 70-80% of the after repair value. Feel free to send me an email with any questions…
Re: Financing Scenarios - Posted by Steve
Posted by Steve on July 13, 2006 at 11:21:35:
If needed, this is in Ga about 30 miles west of Atl.
Re: Financing Scenarios - Posted by Patrick S. Lawson
Posted by Patrick S. Lawson on July 13, 2006 at 13:28:29:
With a 680 FICO you can finance up to 80% of the after repaired value at prime + 1.5 to Prime + 3.