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Updated about 3 years ago on . Most recent reply

User Stats

20
Posts
9
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David Taylor
  • New to Real Estate
  • Wisconsin
9
Votes |
20
Posts

Renovation loan with a 10% down vacation home loan?

David Taylor
  • New to Real Estate
  • Wisconsin
Posted

Is this a thing? My wife and I are considering taking advantage of 10% down vacation home loan for our first STVR property. Is it possible to include renovation costs into this kind of loan, or would we be forced to take out a separate loan for renovations?

What did you do when you were first starting out? Thanks in advance!
This group has been a wonderful resource for us newbs. 

Most Popular Reply

User Stats

10
Posts
13
Votes
Eric Gebhardt
  • Milwaukee, WI
13
Votes |
10
Posts
Eric Gebhardt
  • Milwaukee, WI
Replied

We just took advantage of the 10% down on a second home for STR and it's much better than having to bring 25% on a similar income property.

We used the remainder of our down payment for minor renovations and for furnishings.

If you have any questions message me as my wife and I just setup our first STR and it's been our life for the last 4 months but it was super fun and rewarding.


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