Help! Creative finance conundrum.

[Jonah Caliri]

I found a great deal to house hack with lots of potential to build equity with a few repairs. I would really love to make a move on it, but I am running into issues getting it financed. I don't have enough cash reserves for 20% down, but I have enough to do 5% or possibly 10%. I have access to the VA loan, but this house will not qualify because of the needed repairs. The location qualifies for a USDA loan, but I am not sure of the extent of needed repairs the USDA will allow. I am considering a 203k loan and refinancing into a VA loan after 6 months.

Does anyone have advice or a creative strategy for getting this deal finaced?

[Paul Welden]

You can do a renovation loan, which includes the purchase price + rehab money into 1 loan.

VA renovation loan

FHA 203k renovation loan

Freddie Mac ChoiceRenovation loan

Fannie Mae Homestyle renovation loan

You have many options.