If so, you'd be looking at using a different loan type for that.Assuming you're the end buyer, then the fees depend on how you and your wholesaler worked it out. 

Then I thought I could buy the house from my dad for $300,000, which would include the money needed for the rehab instead of doing 2 separate loans.

It was a little frustrating because I'd been in communication with these lenders from very early on, sharing all details with them from the start and repeatedly remarking on the Trust ownership, and stayed in contact with them throughout the discovery process as I firmed up everything on my end, and now I have the plans, the contractors, the OOP funds, and basically everything else ready to get started within 1-4 months, but I'm back at square one re: loan.

In the state/city these said parks are located two banks will finance with about a 20% down/balloon pymt type loan/15-yr amortization.

Loans from a bank are about 8.2% for single family homes.

As we all know, Fannie Mae has come out with their 5% down, owner occupied loan for multifamily (2-4) properties.

It's crucial to note that this does not mean the buyer assumes the loan; the original loan terms and obligations remain with the seller, which includes the debt remaining in their name.The bank's involvement is minimal in the sense that the loan is not officially transferred.

The loan is issued to an individual or a disregarded single-member LLC, as opposed to loans issued to partnerships or corporations. 3.

Asking is $200K, my relative (buyer) looking to put 20% down.He is pre-approved for the amount, lender has prepared both a conventional loan and a mass housing loan option for first time buyers.Would be purchasing as an owner occupied "primary residence", rates are decent under both options.Condo is currently rented, tenant lease expires the end of August - roughly 4 months.Lender says both loan programs require buyer to occupy the unit within 60 days, to qualify for first time buyer deals.Is there a way to get them to extend this to 120 days (4 months) until the tenant lease is up?

We were going to use a VA loan to purchase the property.