How to Get a Mortgage Loan for a Fixer Upper
There are several reasons for this rule, but the main one has to do with property values, which are determined in large part by the surrounding homes. If you buy the best home in a bad neighborhood, your home sets the highest price consideration in the area.
If you purchase a lower-priced home in a good neighborhood, you'll pay less for it, and with improvements, you can greatly increase its value. The higher-priced homes surrounding it will also buoy its value.
This doesn't necessarily mean you need to purchase a fixer. Sometimes a small home in a good neighborhood offers a good value if there is room to add to it. A fixer, however, presents you with the best opportunity to quickly build equity. Click here to read entire article
Click here to get more information from a lender who specilizes in rehab loans
Post courtesy of Cindy Allen at Keller Williams Red Stick Partners
Keller Williams Realty Red Stick Partners
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