Do note, however, that some bank-owned properties listed for sale may require preapproval by the preferred bank (although you are not required to use that bank).
Ask a realtor for referrals for good reliable, resourceful and responsive lenders to help guide you.
Depend on the repairs.
FHA has a rehab loan.... it is called a '203K loan'.... it is a more expensive loan than a regular '203b' FHA purchase loan. Fees & Rate is higher.
But.... if the type of repairs are allowed to be escrowed.... there is a better option. Not all lenders offer this option.
Basically... it is allowable for some repairs to be escrowed into the loan. So the repair amount is added to the loan and that money is held at the title company after closing.... to be dispersed to a contractor on the completion of the work.
These are done on a case by case basis.
Let me know if you would like to work thru a scenario.... I have done these.... Pretty straight forward deal.
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
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