I am lookng for a lender in AZ to lend under 45K. I am interested in buying an income home that is a fixer..

Asked by Darlena, Goodyear, AZ Fri Feb 25, 2011

I have a 725 credit score..

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Dallas Texas’ answer
Dallas Texas, Agent, Dallas, TN
Sat Feb 26, 2011
Many national lenders will not do these types of loans. Best contact local bank

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0 votes
Cathy Sitarz, Agent, Goodyear, AZ
Fri Feb 25, 2011
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I have a couple of lenders that I work with that may be able to help you get the financing you need or lead you in the direction that will work for you. Give me a call at 623-476-6300 or e-mail me at csitarz@gmail.com for their contact information.
0 votes
Spirit Messi…, Agent, Tucson, AZ
Sat Feb 26, 2011
Please give Paul Volpe, Vice Pres at Nova Home Loans a call at 241-4048. Best of luck.
0 votes
Loren Hoboy, Agent, Phoenix, AZ
Fri Feb 25, 2011
For under $50,000 the only reasonable choice is to use a bank or credit union. As an investor the FHA 203K construction loan option is not available for repairs, like it would be for a owner occupant buyer.

If you put down about 25% and the house is habitable, you can probably qualify for a the purchase price if it appraises, but will be on your own for improvements.

I can introduce you to a couple of lenders that may be able to help. Call me at 623-239-6919
0 votes
Patty Burrell, Agent, AZ,
Fri Feb 25, 2011
I don't know if it is the same for you as it is here but the banks are not loaning on construction loans or land loans. You have to find hard money with a private investor or possibly a lending agency but not banks.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Fri Feb 25, 2011
Consider visiting with any local community banks, credit unions, etc.,
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