Rehab Loans?

[Chui O.]

Hi, 

Are there loans available for rehab work or does rehab work have to paid in cash? 

So if I have $30K cash, I need to factor rehab work as part of that $30K, meaning my downpayment should not be more than $10k or $20K?

Thanks!

[Glenn Banks]

FHA 203K and FNMA Homestyle are two loan products that allow you to borrow to purchase the property and will give you an amount to fund the rehab.