Funds to purchase and rehab foreclosed properties.

[Veronica Giggers]

Hello everyone. Happy Tuesday. I hope everyone is fulfilling their investment dreams. Does anyone know what financing avenues are available for purchasing foreclosure properties? I realize traditional lending institutions do not want to get involved until the property has been purchased and a full title report has been done. Do you know if there are HM lenders that will fund to purchase and rehab of a SFH property? Thank you.

[Chris Seveney]

Quote from @Veronica Giggers:

Hello everyone. Happy Tuesday. I hope everyone is fulfilling their investment dreams. Does anyone know what financing avenues are available for purchasing foreclosure properties? I realize traditional lending institutions do not want to get involved until the property has been purchased and a full title report has been done. Do you know if there are HM lenders that will fund to purchase and rehab of a SFH property? Thank you.

 There are many lenders who will fund these types of deals.In many instances they will fund 75-90% of acquisition and 90-100% of renovation if you have a 3rd party licensed GC with a proposal.

Note if you are looking for 100% financing for everything, those deals do not exist and if someone offers it or very low interest rates then they are probably trying to scam you.

[Erik Estrada]

Quote from @Veronica Giggers:

Hello everyone. Happy Tuesday. I hope everyone is fulfilling their investment dreams. Does anyone know what financing avenues are available for purchasing foreclosure properties? I realize traditional lending institutions do not want to get involved until the property has been purchased and a full title report has been done. Do you know if there are HM lenders that will fund to purchase and rehab of a SFH property? Thank you.

 Hey Veronica, 

Most Hard money lenders will be able to finance this. Depending on the closing time, experience, and FICO, you can expect 60-90% LTV for the purchase, 100% of the rehab financed.