Looking for a loan on a foreclosed home?

Ron
Home Buyer
16624

Answers (2)
Tina DAmato
Agent
Brodheadsville, PA

Hi Ron,

I have sold many forclosed homes. I have got them financed through 203 k streamline or rehab loan, conventional loan, fha loan, and believe it or not even va loan. What it comes down to is what type of condition the home is in.

Please feel free to contact me or email me with more specifics. I'd love to help

Thank you,

Tina D'Amato
Realtor

Direct 570-807-8631 Anytime
tinad@wilkins1.com

Thu Mar 5 2009, 16:38
Tony Grech
Mortgage Broker
or Lender

48170
FIRST ANSWER

The condition of is going to be important when buying a foreclosure. A home that is in disrepair or that has been gutted out by a bitter previous owner is going to be tough to get a mortgage on. The FHA 203k program allows you to finance the cost of repairs and rehabilitation on a home. Otherwise, if the home is a "fixer upper" and has issues you're probably going to have a tough time getting a lender to give you a mortgage on a home like that

Best of luck

Thu Mar 5 2009, 14:15

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