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Updated almost 9 years ago,
Live/Fix: Hard Money -> FHA
I don't have enough skin to get into the game. I'm being priced out of my target market with cash offers.
Is there a way to use Hard Money/Private Money to purchase the home and then IMMEDIATELY start the process to get a regular conventional or FHA Loan.
I'm aware of the cash out refi product but that only gets you a percentage of LTV. I basically need someone else to purchase the house cash and charge me the high interest rate while I get the loan (which I'm pre approved for).
Is this possible?