It is an addition to, or change in, the contract.Amendments are not uncommon and they are used for everything from a request for payment for repairs (after the home inspection results come in) to changing the closing date.It’s easy to remember the difference if you think about our ConstitutionAll those constitutional amendments we know and love were items added AFTER the Constitution was ratified, right?

Instead, let me give you some highlights to the HomeStyle loan and see if it fits what you are looking for:The down payment is 15% of the After Repair Value of the home.You get your renovation bid, then give it to the appraiser, who the sees the work and bases the value on that.The rate is a little higher than a traditional mortgage but it's about 1/2 the rate of hard money. 

Lauderdale area who bought one for $700 and filled $51,000 worth of arguably legit repairs per the warranty on a home he was renovating anyway.  

I am hoping to at least get some money to repair the roof, although I probably do need a whole new roof. 

The frustration I have with most agents, even ones who work with investors, is that they have no clue how to estimate repair cost and they have no network of great subcontractors/locations to buy discounted materials.

So if you put 20% down, do most of the repairs but somehow fail to perform, they are the owners of the house and you are out everything.THis does NOT sound like a good deal to me.

I put $20,000 in repairs into the  property  and I rent it for a total of $1550 a month.  

Need some repairs done and looking for any good recommendations, thanks in advance!

We would like to move in, make the repairs while renting, and in a few months, reapply for a loan (with no rehab portion needed due to home in better shape) and finish this process we've started. 

He took a chance and he made out.Also there are credit repair companies out there that will help you dispute EVERYTHING on your credit report, making it look clean for a certain window of time, but then all that bad history comes back after the debts are affirmed.