Financing in Texas>Question Details

Carri, Home Buyer in 76708

Which is the better value, FHA rehab or conventional (w/10% down) rehab?

Asked by Carri, 76708 Sun Jan 18, 2009

After the improvements there should still be 20K in equity left.

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Depends on your cash situation. If I remember correctly FHA 203k allows for financing of repairs.
I'd be surprised today if you could find conventional that would allow draw to pay contractors.
0 votes Thank Flag Link Sun Jan 18, 2009
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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FHA 203k would be the better scenario. These loans are a little eaiser to do as it stands for rehab.

If the repairs are cosmentic olny, I would put less down and go FHA 203B

I am a mortgage broker. If I can be of service, please let me know!

Martin Smith

Precision Funding
877-238-6324 Ext 704
513-536-7184
877-238-6324 FAX
MSmith@PrecisionFundingUSA.com
http://www.PrecisionFundingUSA.com
0 votes Thank Flag Link Sun Jan 18, 2009
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