Updated over 9 years ago on . Most recent reply
Bank owned property - needs repairs - conventional loan
I am interested in putting an offer on a bank-owned property that needs some repairs and does not have a kitchen. I would need to use a conventional loan, 30yr fixed. I have enough for 20% down and cash on hand for all repairs. Would this qualify for a conventional loan or would they reject it because it is not currently livable? It is going to be a buy-and-hold. Any experience or comments would be appreciated. Thanks!