Updated about 10 years ago on . Most recent reply
Can I obtain a loan that exceeds the purchase agreement?
Hello BP fam,
Just have a quick funding question? I am a new investor and I'm looking to obtain my first fix and flip. At the moment I am working on wholesale deals. Can I get pre-approved from a Lender that exceeds the purchase price? In other words can I pull a loan for lets say $70,000 and I have the property under contract for $50000. Can I use the additional pre-qualified amount for my rehab, or will a lender only close on the agreement? I hope that makes sense. Any and all Info is appreciated.