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Updated over 4 years ago on . Most recent reply

User Stats

238
Posts
68
Votes
Lucas Hammer
  • Chicago, IL
68
Votes |
238
Posts

Recommended FHA Title 1 Lenders?

Lucas Hammer
  • Chicago, IL
Posted

Sorry for another post here, but I recently learned about the FHA Title 1 loan for home renovations and from what I can tell, I can get up to 24k for a 2-unit to fix it up with no prepayment penalty if I refinance. A couple of the local lenders I talked to never mentioned this, so does anyone know someone who has experience in this kind of lending?

I'm looking to find out if I have to have quotes up front and if the loan can be adjusted for overages. I'm going to have a few projects tied to the loan and just want to hammer out any details I can think of ahead of time so I don't get in over my head.

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