is there money available for completing a builders spec house?? I need an additional 150,000 to complete the

Joyce Frederick
Home Buyer
Prescott, AZ

home. I have to go with stated income because I'm A contractor and I write everything off.

Answers (4)
Tesa Noonan
Agent
Prescott, AZ

What about speaking with another general contractor and see if you can create some sort of deal? Just a thought...It's better than letting it go unfinished....

Thu Oct 2 2008, 10:45
Brad Bergamini
Agent
86301

Joyce,
Call Doug at Dessert Hills Bank 928-771-8800 Tanis or Steve at County Bank 928-443-9441
Odds are if you have a loan out on the property right now, you are not going to get what you need to finish. And Stated income what's that like vinyl records...no more by, by. You need to prove you have it if you want to borrow it.
Call or email if you are interested in selling as-is. I have buyers for that.
Brad

Tue Aug 12 2008, 15:17
Tylee Leighton
Agent
Peoria, AZ

From my understanding in discussions with the lenders I know and work with stated income loans have gone the way of the dinosaur with the new lending guidelines that are out there. I would take to a lender and see if there is a loan program for construction loans for builders still available.

Tue Aug 12 2008, 14:55
Lynn911.com Dal...
Agent
Dallas, TX
FIRST ANSWER

Odds for a stated income loan in a house which is not completed could be slim to none. Contact a mortgage broker discuss all the particulars. http://www.lynn911.com http://www.homes-for-sale-dallas.com

Web Reference: http://www.lynn911.com
Tue Aug 12 2008, 14:49

Didn’t find what you were looking for? Ask a question!

Search Advice

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

View all » 1 - 3 of 68
Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback