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Updated over 9 years ago on . Most recent reply

Anthony Guerrero's profile image
Anthony Guerrero's profile image
Anthony Guerrero
  • Military Veteran, Student
  • from Tucson, Arizona
  • Member since Sep 14, 2015
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Anthony Guerrero's profile image
Anthony Guerrero's profile image
Anthony Guerrero
  • Military Veteran, Student
  • from Tucson, Arizona
  • Member since Sep 14, 2015
Connect
Anthony Guerrero
  • Military Veteran, Student
  • Tucson, AZ
1
Votes |
6
Posts
Creative Real Estate Financing

Can I obtain a loan that exceeds the purchase agreement?

Anthony Guerrero
  • Military Veteran, Student
  • Tucson, AZ
Posted

Hello BP fam,

Just have a quick funding question? I am a new investor and I'm looking to obtain my first fix and flip. At the moment I am working on wholesale deals. Can I get pre-approved from a Lender that exceeds the purchase price? In other words can I pull a loan for lets say $70,000 and I have the property under contract for $50000. Can I use the additional pre-qualified amount for my rehab, or will a lender only close on the agreement? I hope that makes sense. Any and all Info is appreciated.

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