Updated over 5 years ago on . Most recent reply
Can loans include renovation costs?
I am trying to decide between getting a cheaper foreclosure and rehabbing it vs. spending more money on the house and having to do less repairs.
I don’t have a ton of cash (maybe $10,000-$15,000) for renovations. I know it’s not a lot and it’s going to take even longer to get it rental ready using my pay checks every 2 weeks to fix it up.
So I guess my question is: can I obtain a loan for more than the value of the house and use the extra money to fix the house?