Some advice about funding rehabs
Well, i have talked to a couple of lenders. Some of them are willing to allow me to take the difference between the loan amount and the purchase price to use for rehab and house expenses. But I am wondering what some of my other options are should I decide to go with one of the lenders that will only give me the purchase price of the home. Some are willing to put an amount in escrow, but only a licensed contractor can take money out and my husband and I are doing most of the repairs so that would not work. At the most I will need between 70%-75% of the LTV, maybe less depending on how low I can get the purchase price of the property.
What are some options i have for finding additional funding to make the repairs on the home? Any creative Ideas, my ears are wide open!! <IMG SRC="images/forum/smilies/icon_lol.gif"> [ Edited by scoobydoo7513 on Date 06/25/2003 ]
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