Posted on: 11th Jul, 2010 03:50 pm
I have some clients that need money for remodeling and refinancing does not work throught banks out there.
I've heard about some good programs that are out there by FHA, but I'm not sure if it's right or wrong.
Do you know anyone that lends money for remodeling homes?
Construction loans or refinancing home with some equity, maybe not 50% LTV but at least 80% LTV
Thank you
I've heard about some good programs that are out there by FHA, but I'm not sure if it's right or wrong.
Do you know anyone that lends money for remodeling homes?
Construction loans or refinancing home with some equity, maybe not 50% LTV but at least 80% LTV
Thank you
Hi yanniraz,
FHA home improvement loans are available in the market. Your clients needs to contact the local FHA approved lenders and apply for loans. If they meet the required criteria of the lender, they will be able to take out a mortgage.
FHA home improvement loans are available in the market. Your clients needs to contact the local FHA approved lenders and apply for loans. If they meet the required criteria of the lender, they will be able to take out a mortgage.
Here is a really helpful link on the details of FHA's 203k rehab loan
http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm
http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm