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Updated over 6 years ago on . Most recent reply

Account Closed
  • Contractor
  • San Diego, CA
221
Votes |
432
Posts

Conventional loan on house w/o central AC sale price 45k

Account Closed
  • Contractor
  • San Diego, CA
Posted
Hi I’m about to sign into escrow on a bank owned foreclosure with my first private lender partner who will fund the purchase price @ $15.2k. We plan to rehab and sell looking nice for $45k or more. I don’t want to go to the expense to add central A/C or a furnace. If I were to put a window AC or two in and a couple wall propane heaters on the walls, would a bank do a conventional loan for a regular buyer on something below $50,000 that doesn’t have central heating and cooling? Any help is appreciated.

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Aaron K.
  • Specialist
  • Riverside, CA
3,801
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6,241
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Aaron K.
  • Specialist
  • Riverside, CA
Replied

That is a low purchase price, I would start talking to lenders in the area and ask because I am 99.9999999% sure this isn't in SD

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