I got a 203k loan for my home,we were given 35,000 for the repairs. I am so glad that we did. My house turned out beautiful and has 100,000 in equatity because of this. My loan was through Universal Mortgage in Wisconsin. I dont know if they still do this type of loan, We bought our house in July 2008.This loan is a very hard one to get.Even if you have very good credit the market is so bad that banks dont want to do these loans. Good luck.

Know of a ReHab Lender. His rate will depend on what you are able to bring to the table. Would like to work with you, however I will need to talk to you at your earliest convenience since I may be able to obtain access to various rehab projects and get you a lender who will work with you!!

Can call me at 312.523.8174 and view my site @ http://ChicagoCityHomeSales.com

Hi I'm Marcella Cohen of American Invsco Realty. I work with a team that includes a Great finance dept working with over 40 lenders. We offer a number of diffirent programs that would help you to accomplish your goals and expand your portfolio.

Marcella Cohen
American Invsco Realty
773 606 9695

For the 203k loan you don't have to be a first time homebuyer but it does need to be your primary residence. Sounds like you may need a construction loan. I've worked with ReCasa Financial out of Columbus, OH in the past. They provided a mortgage with money for rehab on a single family rental in Zion. I did the Draw Inspections for them. You may want to try them. 614-221-6770

Supposedly FannieMae still has HomeStyle Renovation Financing available out there, somewhere.
Read language at the bottom of the page. I guess if you can find a HomePath Renovation lender, they may write HomeStyle product, too.

http://www.fanniemae.com/homepath/financing/index.jhtml

Not personally had anyone try it yet, but have an investor looking to try it on, so I'm searching. Could be as hard to find as a diamond in a pile of elephant dung - so input on anyone that's been thru the process would be fabulous!

E-mail me privately at mike@mjsinspections.com and I can provide you with a list. -Inspector Mike Savage

That is a very good question. You don't have to be a first time home buyer for a 203k Loan, you just need to be buying the home as a primary residence, so basically if you have another home on your credit, the lender is less likely to proceed with this transaction. We are an approved 203k provider as well.

Thanks, Brady

I work with a firm that specializes in Rehab loans of all sorts.....Ardain Mortgage. The contact person is on my web site.

philip