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re: Question About Financing a House
Posted on 8/29/15 at 10:50 am to LSUFanHouston
Posted on 8/29/15 at 10:50 am to LSUFanHouston
I'm talking more about the people buying the home. Not flipping homes. So for example on Fixer Upper Chip and Joanna gains are the real estate agent and contractor. I want to know how the financing works for the homeowner in terms of mortgage vs renovations.
1
Posted on 8/29/15 at 11:14 am to OleWarSkuleAlum
quote:
I'm talking more about the people buying the home. Not flipping homes. So for example on Fixer Upper Chip and Joanna gains are the real estate agent and contractor. I want to know how the financing works for the homeowner in terms of mortgage vs renovations.
I answered that already. 203k loan is most likely product. Terms vary from buyer to buyer depending on budget scope of work, liquidity, and loan amount available to buyer.
Could also be possible Magnolia has LOC and buys house, does renovations, and then sells property back to buyer. That might be cleanest route
This post was edited on 8/29/15 at 11:20 am
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