Not sure if it would apply, given your circumstances, but it may be worth your time to talk with your financial institution or a mortgage officer and inquire about the possible applicability of a 203k loan. http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/203k/203kabou Hope you find this helpful.... more
The state program in Missouri allows you to use credits on your primary residence or an income producing property but the fedeeral program requires that the property be an income producing property.... more
Hmmm, might need more information on why a bank has not been willing to help you. If you give me a call I would be happy to give you contact information for several lenders that might be able to help you!
Colleen ~ 314-852-1400... more
I am not completely sure which program you are referring to. There are a number of programs available for first time home buyers, but it will depend on your situation and what you are trying to accomplish. If you would like more information about the programs available right now, please contact me via email/text/phone. Good luck!
email: email@example.com... more
Hi Alison. The 203k may be the best option. You can borrow up to an additional $35,000 for the rehab. You will get half of the money at closing and the other half upon completion of the work. Keep in mind that you will need to use a licensed contractor if the work costs over $10000 so be sure to include that in your budget.
Call Angela Virtudazo at Atlantic Mortgage Loans at (636) 271-2299. She is in Pacific, MO and she can definitely help you. Tell her Rhonda in Nashville referred you and she will take good care of you.