Property Q&A in Troy>Question Details

Mark, Other/Just Looking in Rochester, MI

Is this a cash only deal or can it be financed with a conventional mortgage?

Asked by Mark, Rochester, MI Wed Mar 11, 2009

Also, does it qualify for an FHA loan, or a Home Path renovation loan?

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Although I have not been in that property, it seems habitable. Without actually touring it, would be tough to say.

They have, however, accepted an offer so this one is off the market for now. If you would like to search the local MLS for like properties, please visit

Derek Bauer, Associate Broker / Realtor
Real Estate One - West Bloomfield
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0 votes Thank Flag Link Wed Mar 11, 2009
Well, I am sure it will qualify for some sort of financing. I thought it might have been owned by us since we are based in Troy and do a bulk of loans there. However, it is not on our REO list. The only thing preventing it from qualifying for FHA would be if it needed extensive repairs and it had health and safety concerns. Other than that you would be okay. You would need to look at the property and see what types of repairs/renovations it needs before deciding if it is a good investment for you. if you need any help qualifying, please let me know.

Luke Allison
Flagstar Bank

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0 votes Thank Flag Link Wed Mar 11, 2009
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