buying home with obvious needs of home repairs, before can live in.

Sherry Tomasso
Home Buyer
Pawtucket, RI

Husband and I are buying a home in MA, "as is" that needs repairs before can be lived inDo you know how I can get free money, grants etc. for repairs to homes bought? Who do I contact for help?

Answers (2)
TerritoryRE
Agent
Massachusetts

It will be hard to get financing on as is properties just as a warning. You are better off purchasing a property in fairly good condition that is priced right. You could try and apply for a home equity loan to do work on the property but again could be difficult.
Our company offers cash back advantages when buyers close on a home so perhaps this is something that will help you financially. If you would like to know more about how it works feel free to email us here: help@territoryre.com or call 617-848-5407 extension 701

Thu Aug 27 2009, 09:02
Ken Lambert
Mortgage Broker
or Lender

Portsmouth, NH
FIRST ANSWER

Hello Sherry- This is a multi-leveled question. I assume you'll be living there, as primary residence? Single family home? There is not a lot of "free' money out there. You'll have a hard enough time getting a mortgage for the place- assuming you need a mortgage. Or are you paying all cash for it?
I can help with this if you want to contact me directly. We offer FHA 203k rehab loans which likely is you're only way of getting a mortgage for it- if you need it. But it is not "free" money.
Sometimes the town/ city will have some partial offers for "grants" in a distressed neighborhood for a fix up . HUD may as well.
You could contact the State as far as potential energy rebates as well. Look forward to speaking with you. Thanks and good luck,

Ken L.

Tue Aug 25 2009, 07:49

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