Homes that need work to move into are financed via a 203K Loan. Works kind of like a construction loan.

I've talked to 2 differnet mortgage co. and they both tell me that since the home has no heat it's considered uninhabitable so it will be very hard to find someone to give me a mortgage for it. They also said that this is probably a ''cash only'' home.

The other thing is why will they not let you close without the furnance installed? Sometimes lenders do differnt things, I had a deal that the electric needed to be updated for insurance and lender reasons. The first lender was requiring the work be done before the closing. However, I was able to find a lender that had a great record of servicing loans and because of that the deal closed with an escrow and the work was able to be completed after closing to the buyers specifications.

You can get permission from seller to install the unit by providing the seller "Hold harmless clause" and specify when you are going to install, time and date. The seller should grant you permission to do so. This should happen right after signing loan docs. You must close. We do it all the time