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Updated about 8 years ago on . Most recent reply
Any local banks or credit union in south Chicago suburbs that does rehab loans?
hey guys I was wondering if some of the local investors here in Chicago know of any local banks or credit unions that are investor friendly and provide loans that include rehab costs in the loan amount? I went to a local credit union in oak lawn and they said they only do conventional loans with 25-35% down and no rehab loan because they're not licensed to do that they said.
I have very good credit (above 760) and good income. So I shouldn't really have a problem getting approved. I also have about 40-50k cash available but I'd much rather use a loan instead of using all my savings rehabbing a house.
If anyone local had an recommendations I would love to hear it