What kind of loan for repairs does FHA offer before getting a house refinanced?

Andre K asked:


I need to refinance my house but have to have some repairs done first which I don’t have the money for. My house appraised as is 57K more than I owe on it.

David

Tags: Fha, Money, Refinance House

This entry was posted on Wednesday, July 22nd, 2009 at 2:27 am and is filed under Refinance. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

3 Responses to “What kind of loan for repairs does FHA offer before getting a house refinanced?”

1. kemperk Says:
   July 24th, 2009 at 1:38 am

   Leo

   you are not restricted to FHA insured loans.
   –just call your “favorite” mortgage broker
   and indicate you seek a rehab loan. Period.

   or, if you have a good relationship with your
   bank, they should do it easily.

2. golferwhoworks Says:
   July 26th, 2009 at 11:08 pm

   Sean

   if you are in an equity possition now try an fha203K loan for your repairs. The problem is that not too many lenders will do them

3. Big daddy Says:
   July 28th, 2009 at 1:03 am

   Adam

   it really depends on who the loan goes to. I’m hearing and seeing some oddities with some fha loans in our office. If you can find a good broker, you should be able to get this done, good luck