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What is the Right Mortgage for Buying a Fixer-Upper?

You have found your dream house but it will take significant work to make it a home. You do not have cash in savings to pay for both a down payment and the repair costs. Not to worry - this is not a hopeless situation. Fortunately, there are two types of mortgage loans available for just this scenario:  The Federal Housing Administration (FHA) 203(k) rehabilitation loan or Fannie Mae HomeStyle Renovation Mortgage. FHA 203(k) Mortgage The Federal Housing administration has provided a home loan that allows buyers to borrow enough money to cover the price of the home plus the estimated...

February 13th, 2019 | FHA Loans, Purchasing a Home, What is the Right Mortgage for Buying a Fixer-Upper?

Fort Orange Funding, LLC (NMLS# 67822)
Phone: 518-446-9629 | Fax: 518-446-9649
21 Everett Rd. Ext., Albany, New York 12205
Email: cdavid@fortorangefunding.com
Loans arranged through third parties
Registered Mortgage Broker with NYS Dept. of Financial Services