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Many states offer rehab programs and, often depedning on income amd purchase price limits, these can be a great option. Check with your state website first and search for "state housing programs".
One federal loan program option is the FHA 203(k) loan program. It's broken into two pieces: The full 203(k) which can be quite cumbersome and pretty costly and the Streamline program which allows for up to $35,000 in rehab funds. The streamline is the most frequently used program in my experience. It does have limits (you can't add square footage to the home or move load bearing walls for example) but it is a very good program. Please make sure that you are working with a mortgage person who is very familiar with the program to avoid any unpleasant surprises!
I have included a link below to HUD's (Housing and Urban Development) info on the FHA 203(k) program.
Good luck and if you run into more questions, just ask!
What else can I help you with?
How do you qualify for a quick loan?
In order to qualify for a quick loan, you have to give out information such as how much your house is worth and your mortage goal. They then calculate this and give you your quick loan.
How does one qualify for a HUD Home Owner Loan?
To qualify for a HUD Home Owner Loan, one needs to have a clear or acceptable credit. You have to visit a bank and ask them if you qualify for the HUD Home Owner Loan, or you can contact a credit repair agency and they will tell you if your credit score will enable you to qualify for a HUD Home Owner Loan.
Can an illegal immigrant qualify for an FHA loan?
No, an illegal immigrant cannot qualify for an FHA loan as they must have legal residency status in the United States to be eligible for this type of loan.
How would one qualify for a home loan from Calpers?
Research has shown that one can no longer qualify for a home loan from CalPERS. In December of 2010 the CalPERS Member Home Loan program was suspended.
What do you need to qualify for a car loan?
You need an appropriate record to qualify for a car loan and you need correct and standard employment information that you must provide in order to approve.
How do you qualify for a quick loan?
In order to qualify for a quick loan, you have to give out information such as how much your house is worth and your mortage goal. They then calculate this and give you your quick loan.
How does one qualify for a HUD Home Owner Loan?
To qualify for a HUD Home Owner Loan, one needs to have a clear or acceptable credit. You have to visit a bank and ask them if you qualify for the HUD Home Owner Loan, or you can contact a credit repair agency and they will tell you if your credit score will enable you to qualify for a HUD Home Owner Loan.
Can an illegal immigrant qualify for an FHA loan?
No, an illegal immigrant cannot qualify for an FHA loan as they must have legal residency status in the United States to be eligible for this type of loan.
Can you get a loan if you are a co signer for a student loan?
If you have a good enough income to qualify since the student loan is considered your loan.
How would one qualify for a home loan from Calpers?
Research has shown that one can no longer qualify for a home loan from CalPERS. In December of 2010 the CalPERS Member Home Loan program was suspended.
do i qualify for a rural development grant i have a rural development loan on my house and i work.?
do i qualify for a rural development grant i have a rural devevlopment loan on my house and i work.
Can you sell a business to your spouse to qualify for a minority business loan?
You can sell your business to your spouse and if she is a minority, then she may be eligible for a minority business loan. You must ask the loan officer if the person has to be the owner for a certain amount of time before they qualify for the loan.
What is required to qualify for a refund anticipation loan?
nothing
What is needed to qualify for a loan?
A good credit score.
What do you need to qualify for a car loan?
You need an appropriate record to qualify for a car loan and you need correct and standard employment information that you must provide in order to approve.
Can an LLC qualify for an FHA loan?
No, an LLC cannot qualify for an FHA loan. FHA loans are typically only available to individuals, not businesses or entities like LLCs.
Can you get an easy bank loan for a new car?
Getting an easy bank loan for a new car will depend on your credit rating. If your credit rating is Good or above, you would easily qualify for a loan. If your credit rating is not very good, then you are unlikely to qualify for a loan.
