Mnormanbusin…, Home Buyer in Houston, TX

Is there any lender that will loan < $50,000 to rehab a single-family home. PIF. Repairs less than $5,000. Credit about 540?

Asked by Mnormanbusiness, Houston, TX Sat Aug 24, 2013

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Try Wells Fargo for a Renovation Loan. I seem to recall that they will do a loan for smaller amounts, but not sure if they will for less than $5000. The worst thing they can say is no! Best of luck to you!
0 votes Thank Flag Link Sat Aug 24, 2013
With a 540 credit score, they will.
Flag Sat Aug 24, 2013
You might have gotten a credit union to go down to that low of a loan amount, but not with that low credit score.

Barbara Coker
NMLS#228545
Licensed Mortgage Loan Officer
100% Home Loans All Over Texas!
0 votes Thank Flag Link Sat Aug 24, 2013
Not that I know of ... I've had several similar inquiries over the past few months with no positive results. I wish the news were better.
0 votes Thank Flag Link Sat Aug 24, 2013
Property Management Companies are just that ... and with a 540 FICO score, your chances of obtaining any kind of financing are nonexistent. Sorry ...
Flag Sat Aug 24, 2013
Does that hold true for Property Management Companies? Do they exist in Houston? They rehab, lease, get their money off top?
Flag Sat Aug 24, 2013
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