What loans are out there?

[John Morgan]

I recently did my first discussion here on bigger pockets regarding whether I should use my own capital and cash to rehab a current property that I own or apply for a loan with a bank. The consensus response was to apply for a loan which I agree with and will do, but I am taking it step further and asking for wisdom and guidance from the bugger pockets community... Are there any "specific" loans or banks I should be looking towards with retrieving this loan? Please help! Thanks John

[Michael Cohen]

@John Morgan  

The most common renovation loans are

1. FHA 203K
2. FreddieMac Renovation Loan (they really thought outside the box for that name...)
3. Fannie Mae HomeStyle

Renovation loans really are an animal unto themselves, so I highly recommend you work with a lender who specializes in them.