How to Buy & Finance a House that Needs Repairs

  • Fantastic article!!!
    This website is full of so much information!

  • Rich Harris says:

    Good article Mark! I was going to ask this similar question on our call on Monday.

  • Nice article, Great information for anyone who needs to know, we get clients all the time asking this, Cheers!

  • Rob, lenders can be very picky and many are much pickier than fannie or fha guidelines.

    • TAMMY J EMINETH says:

      These comments are prompting odd back links for our site. Can you please remove Rob Shepherds link in his comment above? I am his web master. I would really appreciate it. The comment can stay, but can you remove the link? Thank you 🙂

  • There are several programs available, Fannie Mae has a few; EZ-C, Homestyle, , FHA of their 203K full and streamline, also available is USDA-RD repair escrow, VA , the nice thing about these programs, you can close on the loan, monies are held back for the renovation, complete the job then pay off the contractors. very simple, however, you, the lender, realtor, or relatives cannot do the repairs.

  • Carlos Gutierrez says:

    Where can I find a lender who gives these types of loans?

    • Mark Ferguson says:

      A good real estate agent should be able to help

  • Beth Schade says:

    Is it harder to get a loan if the septic system is need of replacing and brought up to code. The county Health Department inspection said it needed to be replaced. The seller is not willing to do this repair.

    • Mark Ferguson says:

      Yes!

    • Mark Ferguson says:

      Thank you

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