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Buying & Selling Real Estate
HomeForumsBuying & Selling Real Estatemortgage plus reno all in one mortgage?
Justen Ashcraft's profile image
Justen Ashcraft's profile image
Justen Ashcraft
  • from Braselton, Georgia
  • Member since Jun 10, 2013
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Justen Ashcraft's profile image
Justen Ashcraft's profile image
Justen Ashcraft
  • from Braselton, Georgia
  • Member since Jun 10, 2013
Connect
Justen Ashcraft
  • Braselton, GA
57
Votes |
243
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Buying & Selling Real Estate

mortgage plus reno all in one mortgage?

Justen Ashcraft
  • Braselton, GA
Posted Jun 30 2013, 19:08

I am looking at a property that I will probably bid 75k on. It needs about 30k in renovations, and the property should be worth 150k arv. My question is about the mortgage, can I have all of the reno costs in the mortgage? should I apply for a reno loan separate? Its a foreclosed property, I have good credit and minimal debt. What is the best way to approach this so that if/when I sign the contract I will have the monehy available for contractors etc. Thanks.

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