Can you use CONV financing to purchase a rehab project?

[Patrick Boutin]

I would like to purchase a property to live in however I would prefer to find one that needs work where I can get it at a discount or better price because of the work that needs to be done on it.

All cash not being an option, does that mean FHA 203k are necessary to finance these deals or can I use Conventional loan to finance a rehab project?

[Joel Cummings]

@Patrick Boutin I have a local lender here in Seattle who does these as well. I don't remember the exact terms, but I think they are similar to the 5% down Fannie Mae product. Try a local investment club or a REIA and I'm sure there is a local lender in your area that has a similar program. I have a lender friend in SD that I've reached out to, and if he has something better than the Fannie Mae product I'll update you.