Loans for rehabbing besides 203k?

[Tyler Paquette]

I have been looking at several homes that need repair. I have done construction most of my life so I can easily put in The Sweat Equity. The homes that I have been looking at are all out of state, so my questions are

(These homes cost between 10k and 15k)

A. I have about 10,000 I could use for a downpayment, would I have to pay in cash to rehab the home? Or is there a loan that I could take out for this?

B. Is taking out a personal loan worth it? Or my only option

C. When you buy a house that's in foreclosure and it's under 20000, do you have to pay in cash?

[Paul Welden]

Most traditional banks that I’m aware of will not do a Mortgsge for less than $75k.

Rehab loans available are FHA 203k, Fannie Mae Homestyle, and Freddie Mac CHOICERenovation.