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Updated over 2 years ago on . Most recent reply

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Mike Schorah
  • Rental Property Investor
189
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418
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Can I use a conventional loan for a fixer upper investment?

Mike Schorah
  • Rental Property Investor
Posted

NOT looking for a hard money loan (so I guess that I should assume that no one will answer this).

I don't want to pay astronomical fees for a HML especially if it takes longer to fix up for whatever reason. Is there any way to do a conventional loan on a fixer upper property and somehow fund the rehab costs simultaneously without getting a partner? I'm talking about getting some type of loan somehow.

I have 25% for the down payment.

This would be for an investment property.

I currently have a FHA on my primary residence. Not sure if this would affect anything.

Most Popular Reply

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Shaun Weekes
  • Loan Officer / Processor / Life & Health Agent
  • Rancho Cucamonga, CA
757
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1,784
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Shaun Weekes
  • Loan Officer / Processor / Life & Health Agent
  • Rancho Cucamonga, CA
Replied

Look up Fannie Mae homestyle.  This is Fannies rehab loan.  For invest properties you'll only be able to do 1 unit properties.

I hope this helps.

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