Hi Everyone - I'm looking to make my first real estate investment (buying my parents' home). Hoping to buy and hold, but needs a good amount of Renovations (Kitchen, flooring, bathrooms, carport, paint + popcorn ceilings). This is my first buy so i'd like to go 10% Conventional, however with the renovation needs, I'm wondering if I should do FHA instead to free up some cash instead? Are there renovation loans out there based on conventional? Thank you!
Lender · Glenview IL- CDLP NMLS#230554 · Member since 2015 · 2k+ posts · 747 votes
6y
@Marquel Martin You have 203k, HomeStyle (Fannie Mae) and Choice renovation (Freddie Mac) option for renovation purpose. You have to ask your lender which one will be good option for you.