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Financing in Littleton : Real Estate Advice

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Activity 2
Sun Jul 24, 2011
Don Tepper answered:
The concept itself can work. (I looked into it a number of years ago.) However, I was absolutely turned off by that site--lots of phony videos and other questionable practices. Too many red flags.

It's less efficient to just make an extra principle payment every month, but it doesn't cost anything up front and you're not dependent on someone else for "the magic formula."

Hope that helps.
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Sat Jul 23, 2011
Bud Herzog answered:
Conventional financing CAN work, if you want to go that route. An FHA 203K loan, is probably your best bet in this situation because you'd be able to borrow the rehab costs too and package it all in one loan with just 3.5% down. Also, FHA has a few more safeguards than conventional financing. Conventional financing can be easier to qualify for, and those loans are usually more lenient on the types of property they finance. If your cabin won't qualify for FHA initially, then conventional financing might be your only hope. ... more
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