Financing in 32789 : Questions & Answers

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Ron Hobbs, Real Estate Pro in Lake Mary, FL
Ron Hobbs answered:
I am in the process of buying a 2 family hud property for investment and have been approved for a conventional loan. The home needs $5K inprovents
You have encountered a common problem... repairs. Any lender can allow for an escrow-holdback for repairs, however even if allowable the decision is always at the underwri ... more
0 votes Share Flag Tue Mar 16, 2010 Financing in 32789
Rudy R. McDo…, Real Estate Pro in Bloomfield Hills, MI
Rudy R. McDowell answered:
I have been approved for a mortgage on an extremely low-priced home which I just found out will need approximately 10k in repairs to be habitable.
Hi, Marie

Your best option is a FHA 203BK (Baby K). This is the scaled verision of a 203 K that allows up to 35K in repairs and renovations that do not included tearing down interio ... more
1 vote Share Flag Thu Sep 24, 2009 Financing in 32789
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