Where can I bring a loan for a fixer-up house that bank will not nouns?
The house needs to be completely gutted on the inside and redo but I can do the work myself. I want the place because of the size of the house and the lot.Answers: I would bet a big lender wont touch the loan. Most wont. Now I work for a community bank and we do do those loans if we see you enjoy the ability to do this generous of project. We get a different gentle of appraisal, called "as improved".
You will stipulation to have strong credit to even start and some downpayment money too.
Check w/ your local community wall.
Good luck!
Where is the House?
How you guys are frighten of saying the State of the House.
I'm not coming to find you.
Or give an approximate location..because some lenders
don't budge everywhere.
I know a lot of lenders adjectives over the United States...that is the
one's that are disappeared..lol
Go to LendersUniverse.com
or LoanUniverse.com
They left the business. but in that are some not starving approaching
Marvin.
If lenders won't finance, you will want a hard money lender (a private individual that loans money). The interest rate will most credible be in the double digits, but once you hold the house decent, hopefully you can refinance into a conventional mortgage.
Call local lenders and ask if they know any sturdy money lenders that you can finance through.
Has anyone get an renovation mortgage...?
And if so does that mean, you are given a loan for the home purchase price and for the renovations? So if the purchase price is 100, 000 and the renovations will cost 100,000 - will the total loan be 200,000? And is it one 30 year fixed loan or two loans?Answers: I hold never heard of such a piece. Your initial loan can not be fore more then the purchase price. You can after apply for an additional loan, however, the house have to appraise for the total amount of the two loans when the loan is made, not after you renovate it.
You would have two loans, the second would be considered a 203K which is a loan for repairs. Be discreet though because not all loans are equal.
What is the most expensive US city to live in?
Answers: New York City / Manhattan.
For 2006
1 - Manhattan
2 - San Francisco
3 - Los Angeles
4 - San Jose
5 - Washington, D.C.
FYI, San Francisco is actually the costliest dollar wise but the survey is adjusted for income. Incomes in California are higher than NY and offsett the difference.
the expensive state is here in hawaii. but honolulu is not the most expensive place here. i live here in maui and our gas price is over $4 which is sad we got higher cost of living but the good thing id higher minimum wage which $7.50.
the most expensive place here is Kaanapali on west maui
Manhattan! Prices are really unbelievable for what you get!