Best Loan/Way to avoid all red tape associated with.......

[Michael Dunn]

Hi BP community. I have been reading through the two Renovation loans that the FHA offers, as well as the Rehab program that Fannie Mae offers. From my understanding, no matter which of these loans you go with, they all require you to hire a Contractor and draw money as the rehab work is completed by that Contractor / as it is Inspected at it's various completed stages. I'm trying to find out if there is a Rehab loan out there, that I can use in conjunstion with getting the actual property financed , but that will allow me to do the Work myself, without having to have a Contractor / someone come and inspected the Rehab work as it's completed. I'm leaning towards a HML and then funding the Rehab work out of my own pocket on the front end ( Material costs only ), but still having the cost of the materials financed into the HML on the front end of the deal and getting reimbursed the costs for materials when I refinance into a 30 year fix. Thanks everyone - Michael