A-tier credit buyer seeking lender for 30 year fixed who will allow escrow funds to be held for repairs.
We are hoping to buy a fixer upper in Douglasville or Snellville only for a second & eventual retirement home. We are seeking a lender who will allow us to escrow money for the repairs, a scheme we have pulled of successfully in the past but now find mortgage companies dumbfounded at the idea. We have A-tier credit, Experian score 770's. We own our primary home and a second home outright but do NOT wish to do a home equity on them. We are ready to buy promptly.
I'm sure you can get it done, but not sure how.
Look at this blog it will help you to learn more about your situation.
I've got most of my answers there as well.
Good Luck.
I can recommend a couple of good lenders that work with FHA 203K loans
Dave Fuchs - Metro Brokers Financial
404-610-4729
Andrea Stadler - Suntrust Bank
404-276-0518
I work this area and use these lenders often. Either one of them would be great to work with.
Good Luck!
Prissy Dixon
404-408-4941
prissydixon@solidsourcerealty.com
Look for a Lender that will do an FHA 203K Mortgage
http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm?&lang=en
This Page contains additional information
http://www.hud.gov/offices/hsg/sfh/203k/203kmenu.cfm
An approved Lenders List (subject to change) -
be sure to check the 203K Box at the Bottom of the Page:
http://www.hud.gov/ll/code/llslcrit.cfm
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Best wishes to you,
Fred
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