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Updated over 2 years ago on . Most recent reply

Olivier M Ouedraogo's profile image
Olivier M Ouedraogo's profile image
Olivier M Ouedraogo
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Olivier M Ouedraogo's profile image
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Olivier M Ouedraogo
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Olivier M Ouedraogo
10
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38
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Private Lending & Conventional Mortgage Advice

Looking for a lender in Virginia

Olivier M Ouedraogo
Posted

Hi everyone, looking for a lender. We're looking for a conventional rehab loan. We have the property under contract and have/had a lender we are working with but just realized the closing costs with them are 12% of the loan. The purchase price is 130k, with an estimated 40k for the rehab. 

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    Tchaka Owen's profile image
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    Tchaka Owen
    • Real Estate Agent
    • from Merritt Island, FL
    • Member since Sep 22, 2017
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    Tchaka Owen
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    • from Merritt Island, FL
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    Tchaka Owen
    • Real Estate Agent
    • Merritt Island, FL
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    Tchaka Owen
    • Real Estate Agent
    • Merritt Island, FL
    Replied
    Quote from @Olivier M Ouedraogo:

    "conventional rehab loan"

    Those 3 words together should be a concern......those types of loans aren't common and who knows how much probing you will get. Go hard money. Easy, fast and get your rehab done.
     
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