There are some renovation type financing programs available. They may vary from state to state a bit. It would be best to check with a local lender to see what programs are available near you. Sometime a standard construction loan can be done as well. Check with your Banker. Have a great day!
Dee Dee has spoken ... LOL she is correct , and the only problem I have is the actual cost of the repairs. I think you need to really look at the numbers as you do not want to be underwater by paying to much for repairs
Do a 3 bid system before you look at the numbers, and make sure they are licensed and Insured
Happy House Hunting
Doug Dickie, Property Manager, Realtor
Zenith Realty, Inc
904 568-7080 Cell
@Rob, your answer is only correct is that the property must be owner occupied. A Streamlined 203K is limited to 35K; however, the only upward limit to a full 203K is the FHA loan limits in the location of the property. Unfortunately, myths and misnomers about loan products really abound on the advice columns...usually from non licensed individuals.
Best of luck in your search, Tara. Please talk to a mortgage professional about your options for financing.
As indicated it depends on the type of financing that is available for your purpose. Would recommend that you speak with a mortgage advisor which I could recommend one. Then choose another to correlate the info. to make a decision.
All the best and Merry Christmas
Charlie Chorman - REALTOR
Coldwell Banker Vanguard Realty