Money for Repairs

Should you need it, I will also supply the funds for fix up. Here’s how that works:

Final fixed up value of the house: $175,000
    75.00% $131,250
    My loan will be for $135,000
    Less 5.00% loan fee: $6,750
    Repair escrow $20,000
    Amount I bring to closing: $108,250
    Your required down payment: $3,000

The repair money will be disbursed, usually in three installments. I do my own inspections in a timely manner at no cost to you.

Please understand that none of the above numbers are set in stone. I will often work with borrowers who have no money but who have substantial equity in a rental or their personal home which I can use as additional collateral. Under those circumstances I will often not even require monthly payments until the house is sold.

So, tell me your story and let’s do a deal.