For example: Can I take out a loan for $100,000 but buy a house for $90,000 and use the rest for renovations? If not, what options do I have to immediately make renovations to my home?
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#1 by manthebraces at April 13th, 2009
The last I heard, the only REAL financing available is for 80 Percent.. so you have to come up a 20 PERCENT DOWN PAYMENT.. that doesn’t sound like you can get a loan with ANYTHING left over… for renovations or anything else.
#2 by B M at April 16th, 2009
You use to be able to do that. Not any more.
Now the mortgage companies give you just what you’re paying for the house.
I am doing it now and would also like to do the same thing…
#3 by foxyman at April 17th, 2009
Oh dear, you don’t seem to have got very far with your answerer’s do you, Morgan S trying to rope you in to his little scam that no doubt pays $500 a week for doing next to nothing and George S and Sun S both Nigerian scam artists who will both want a big fee off you and you won’t see anything of your ‘loan’. Try to e-mail them both, no, you can’t, they’ve both got their e-mails blocked, I wonder why?
#4 by judd328 at April 17th, 2009
they have what is called a 203 k. it is a fha loan for fixer upper homes. you have to put 3% down.
#5 by Pengy at April 18th, 2009
Not going to happen straight up. So geuss you need to have some money or do it a little at a time
#6 by White Stefanie at April 20th, 2009
Hello Every One,
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If you are in need of a ganuine or legit loan or financial assistance and you can be reliable and trusted of capable of paying back at the due time of the funds i will advice you to, contact him and you will be free from scams in the internet.