Tuesday, April 29, 2014

Help buying first house. Is there a mortgage like this- home repair included?


Let's say I want to buy a house in an area where all the other houses around it are appraised at $220,000. But this house. The previous owners treated it very badly, and all of the house needs to be spackled and painted, floors redone, and All appliances are inoperable. A/C is 30 years old.

So is there any way I can get a mortgage paying $200,000 for the house and $15,000 to $20,000 in repairs, and have that included?

If not, how would you suggest going about this?

Read more: Help buying first house. Is there a mortgage like this- home repair included?