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Rehab added to the closing for cash out refi

Posted

Hi all from Austin and surrounding areas!

Here me out and let me know what you think.

Most lenders only let you take out 75% of ARV up to the purchase price of the house.

I am looking to network with realtors and lenders who have added the rehab costs to the closing on a house to help with the process of cash out refinance of getting the cost of the purchase price of the house(cost of house + rehab). 

If anyone has done this before, I would like to network with you and ask more questions on how to do this process once you have a accepted offer on a house.

Regards,

- David W

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Jarrod Covey
  • Lender
  • Austin, TX
136
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241
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Jarrod Covey
  • Lender
  • Austin, TX
Replied

@David Paul Westenberger the 203(K) REHAB MORTGAGE is a federally backed loan that will fund your purchase plus rehab. 

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