Midway Real Estate

Mortgage for a fixer upper home?

found a home for 130 thousand dollars in an area where the homes the same size sell for about 200 thousand dollars.

some of the windows are boarded up needs a pain job on the outside.
if i get a 160 thousand dollar mortgage can i use 30 thousand dollars of it to fix the home ?
how do i get the mortgage to finance all of the work needed on the house ?

No, you can not get an loan for 100% of the sales price.

What you need to do is first buy it then get an additional home equity loan after you own it.

Take a look at fast fixer upper profits to get a feel for how you can do this.

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Real Estate Investment Secrets: Discover the Jealously Guarded Insights of Real Estate Tycoons and Hot Dealers! $4.88 Tenderfoot Education in Real Estate Investing 101Back in the days of the wild, Wild West, when easterners traveled across this vast country looking for opportunity in the newly opened territories, they were often referred to as a ‘tenderfoot’.This wasn’t a complimentary term but it was a rather apt one. The easterners wore ‘city’ shoes that weren’t designed to withstand the rigors of t…

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