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Updated about 11 years ago on . Most recent reply

Account Closed
  • Involved In Real Estate
  • New York City, NY
2
Votes |
25
Posts

HomePath Renovation Loan For Fix & Flip ?

Account Closed
  • Involved In Real Estate
  • New York City, NY
Posted

Hi, does anyone have any experience using a Home Path Renovation Loan for a Fix & Flip? I know they do 10% down loans for NOI properties. But I'm wondering if they limit that strictly to buy and hold investment properties OR if they're OK with an investor using it for a fix & flip? Also, I'm wondering if there are any legal ramifications if I say it's for a buy and hold rental property but then decide to flip it after the refurb is done. And last but not least, would the refurb take longer with this type of loan as opposed to with hard money? Because obviously that would suck because more carrying costs would be incurred !

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