Updated about 10 years ago on . Most recent reply
Mortgages that cover repairs when you don't live in the home.
Hey guys,
I'm looking at a duplex that's in a great area but needs some work. I've estimated that the repairs would be about $15,000 and will still Cashflow after repair. The ARV will also be much higher once the repairs are made.
Is there any loan that will cover the cost of repairs? I know the FHA 203(k) will cover repairs but I don't plan on living in the home. Is there any other mortgages that cover repair expenses but don't require you to live in the home?