Financing in Waianae>Question Details

Tupulua, Home Buyer in Waianae, HI


Asked by Tupulua, Waianae, HI Sat Jun 14, 2008

Just brought I new house & need to do the back yard in 120 days. The house is new so there is no equity yet. Is there anywhere I can get a loan to do this at this early stage as a new homeowner?

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The best rehab loan is the FHA 203k. I've been doing them for years and it really works for the first time homebuyer
0 votes Thank Flag Link Wed Jul 16, 2008
Hi Tupulua,
Congratulations on your new home! If your backyard need the work for safety reason, you may want to check with C&C for rehab loan. I attached the link for you. Good luck and enjoy your home for many years to come!
0 votes Thank Flag Link Tue Jul 8, 2008
Aloha, Tupulua. Check with Wells Fargo. My understanding is that they have the sort of renovation loan you're looking for and good luck!
0 votes Thank Flag Link Sun Jun 15, 2008
Rather than get a loan I would just save some money instead. With the economy the way it is, try to keep your debt down the lowest possible level. now.

If you have to do a rehab loan ahead of time, some lenders allow you to extra money to fix up the house based on the future value.

I would do some searches now for pricing for a major yard renovation and get all your costs written down.
Email if you need sources for anything, I have a lot of resources on the island. Or call me. I am on the way to Nanakuli for paddling races for tomorrow!
Frank 808.723.0900
Web Reference:
0 votes Thank Flag Link Sat Jun 14, 2008
Funny you should ask that question. I have just listed a home that will require a rehab loan or cash. Since there is not very much cash floating around these days I thought I would get the loan in place pre-buyer. That way when a buyer does come around I am ready witha program that will work. I have had zero luck in getting a response from any mortgage person regarding this. I do have this out to a many people in several locations ... if I find anyone I'll be sure to come back here to let you know.
0 votes Thank Flag Link Sat Jun 14, 2008
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