I have dealt with this numerous times, but a Realtor is not the person to answer this question. It is possible to get a mortgage/construction loan, but they are rare.
Y ... more
There are advantages to putting 20% down, the primary being you don't have to purchase Mortgage Insurance. Mortgage Insurance protects the lender, not you so you still would nee ... more
Take a look at our listings for developers on Trulia: http://www.trulia.com/voices/directory/Brooklyn-builder_developer--7168
Ali, Community Manager
As long as your credit score is at least in the mid 600's it shouldn't be too difficult if as you write you'll be putting down well over 50% . Just speak with a couple of lo ... more
1) Take a higher deductible.
2) Get an alarm system.
3) Group your auto and homeowners insurance through the same company.
4) Install a check valve on y ... more
Looking forward to working with you.
11 Years Ex ... more
Best of Luck,
Century 21 tenace
With stated income, you will need an excellent credit score and usually at least 50% equity or down payment. These loans are pretty rare these days but a few lenders are st ... more
Yes, this program is still available. The property has to be Fannie Mae owned, and also qualify/be eligible for the renovation loan program. You can't just apply for this t ... more