Austin, TX - Rehab & mortgage financing recommendations

[Beth Zetzman]

Does anyone have recommendations for rehab & mortgage financing options in Austin, TX? We are first-time home buyers, looking to buy a single family residence with an ADU. The front house needs considerable repairs before it can be considered livable so we need a rehab. loan on top of a mortgage.

We've looked some into HomeReady and 203k but I believe our financing amount and income make us ineligible (prop value $840k + $120k($) repairs, income of $137k).

[Beth Zetzman]

@Bryan Noth, I'm honestly not sure - how would I find that out? Call an insurance agent? I know that the seller's agent is requiring a true construction loan to purchase the property.