Hi , I am looking for someone to help me find a place to get a purchase rehab loan , anyone have sugestions? Would appreciate any help I can get thanks zac
i am in the same boat. i have checked with a bank and they stated to get 60,000.00 in my pocket and the purchace price of 30,000.00 i would need 12,500.00 then the title company would disburse the money to the construction companies.
you always hear that these investors do it for no money down or little. i do not get that feeling for a first time investor. especially when it is owner unoccupied.
i want to use equity in the rehabe home, but in missouri you can not because i am not occupying the property.
Will this be your primary residence? What state are you in? And what is the purchase and rehab costs?
There is actually an option that can get you 90% of the after repaired value.
The loan should be enough to cover payments, costs, fixing up, and purchasing.
Funds for the rehab are put into an escrow account and some can be dispersed upfront.
Not everyone can qualify for this loan but for those that cannot, there are many other lenders that offer 70-80% arv.