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Updated almost 4 years ago on . Most recent reply

User Stats

40
Posts
12
Votes
Gil Happy
  • Gilbert, AZ
12
Votes |
40
Posts

Need Lender Recommendations For Single Family Home

Gil Happy
  • Gilbert, AZ
Posted

Hello,

I am looking for lender recommendations for a single family home in a current state of rehab.

I am currently looking at purchasing a single family home (SFH) that was purchased by a 'flipper' approximately 9 months ago. This flipper recently abandoned this rehab project and are looking to sell due to a 'family situation'.

If I had to guess, I would say that the renovation is 70% completed, but the currently owner / flipper has no intention of completing any further and is looking to sell.

The property is located in GA and I was wondering if anyone has recommendations or suggestions on a traditional bank / credit union lender that would provide a 30 year fixed mortgage on a home in the current state? I would put down 20% and am open to moving into the home and making it our primary residence. However, since we purchased a primary residence back in Oct 2020 (and don't plan to sell), it might not qualify.  As well, I would 'not' need the loan to include extra money to complete the renovations.

Thanks in advance!

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