Posted on: 12th Aug, 2009 10:32 am
we have found a house that we really like, but it is a foreclosure and the house is going to need new carpet and the walls are going to have to be painted.We will have to get new appliances. Please tell me where I can find a loan.
Check this
http://www.mortgagefit.com/predeal/about26108.html
http://www.mortgagefit.com/predeal/about26108.html
To Guest,
You can definitely buy a home which has been foreclosed. The home needs to be eligible for financing and you need to have good income and credit. Since the house requires repair and improvements, you can seek to get an FHA 203k loan. You will not have to borrow two different loans to make the purchase and do the improvement. A single 203k loan will help you buy the home as well as do the required improvements to the home.
You can contact any of the local lenders. There are quite a number of lenders in this community as well. You have the option of seeking a no obligation free mortgage consultation with them. After considering your situation, they will be able to tell you if you can qualify for a loan and what type of loan you may qualify for. You can get to know about 203k loans and whether you are eligible for such a loan. They will also be able to inform you about any other mortgage program that may suit your requirements.
You can definitely buy a home which has been foreclosed. The home needs to be eligible for financing and you need to have good income and credit. Since the house requires repair and improvements, you can seek to get an FHA 203k loan. You will not have to borrow two different loans to make the purchase and do the improvement. A single 203k loan will help you buy the home as well as do the required improvements to the home.
You can contact any of the local lenders. There are quite a number of lenders in this community as well. You have the option of seeking a no obligation free mortgage consultation with them. After considering your situation, they will be able to tell you if you can qualify for a loan and what type of loan you may qualify for. You can get to know about 203k loans and whether you are eligible for such a loan. They will also be able to inform you about any other mortgage program that may suit your requirements.