Is there a lender for SFR, needs rehab, holding as rental?

[Jonathan Cronkite]

Where are you?  A lender that will do a long term mortgage to purchase a property for holding as a rental, but needs rehab?  Looking for a loan which includes purchase price and rehab, like a fix-n-flip loan, but want a long term mortgage instead of having to refinance after 6 months.

Do you exist?

Jonathan

[Chris Mason]

Originally posted by @Jonathan Cronkite:

Where are you?  A lender that will do a long term mortgage to purchase a property for holding as a rental, but needs rehab?  Looking for a loan which includes purchase price and rehab, like a fix-n-flip loan, but want a long term mortgage instead of having to refinance after 6 months.

Do you exist?

Jonathan

 Hi Jonathan,

The product you're after is Fannie Mae HomeStyle. Most lenders (I'd say at least 4 out of 5) that do 203k will also do HomeStyle, but no one has heard of HomeStyle so 203k is what folks put on their websites. That should get you started on google.