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javan
27 Posts |
 Posted - 07/06/2009 : 10:01:08 AM
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I found a great home, but I wanted to add a garage in the back of the house. Could I incorporate the price of the remodeling into the loan amount I'm requesting from my lender before I purchase the house?
That way I'm paying for the remodeling in my house note. |
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Scrooge McDuck
15108 Posts |
Posted - 07/06/2009 : 10:33:24 AM
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| you want a rehab, or renovation loan. im no expert on this loan type, but that would be the only wise way to go about this. |
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Mandyvilla
6392 Posts |
Posted - 07/06/2009 : 11:40:07 AM
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I agree w/ the Duck, however, that particular kind of financing could find some seller resistance, particularly if a foreclosure. You would need complete plans and specs, as well.
I forgot to add, rehab funds are elusive, unless a 203K will allow for it. |
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Ruby2sdae2
514 Posts |
Posted - 07/07/2009 : 04:37:25 AM
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| a 203k loan would allow to have a garage built. You need to find a loan officer in your area that does them. Please for your own sake make sure they are experienced at them because they are not an easy loan to do and inexperience will only further your burden and patience. |
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