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What Are The Requirements For A Rehab Loan?

January 24, 2024 by James Park

What Are The Requirements For A Rehab Loan? You must have at least a 580 credit score (though some lenders require 620-640); at least a 3.5% down payment based on purchase price plus repair costs; adequate income to repay the loan; not too much existing debt; and U.S. citizenship or lawful permanent residency. Are rehab

Can You Use A VA Loan For A Fixer Upper?

January 24, 2024 by David Martineau

Can You Use A VA Loan For A Fixer Upper? VA rehab and renovation loans offer veterans and service members a low-cost, no-down-payment way to purchase fixer-uppers or homes in need of some extra TLC. Through VA renovation loans, borrowers can finance both the purchase price and necessary repairs, or refinance and repair an existing