Can you borrow more than the asking price for home improvements on a 5% conventional loan?

I think Raymond meant to say FHA 203K, not 403K. If it's a loan where you want to make rehab improvements as part of the whole purchase, then yes. There is also a conventional loan that has a rehab element. Otherwise, if you are banking on some sort of value appreciation and having no skin in the game, this is long gone.

Yes, but only if the home you are purchasing is a home Fannie Mae is selling, AND the home is listed as eligible for Fannie's HomePath Renovation. Otherwise your only solution is the FHA 203k loan, which you can use on almost any home. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

No. Only with FHA's 403k program.

The only option I know of is doing a 203K which you can finance improvements to the home at the same time of purchase.You are welcome to give me a call anytime Jeremiah Adams 573-355-1743 jeremiah@delinefinance.com

Not on a conveniontional unless you can find a portfolio lender that will or like the others have stated an FHA 203K loan

ABSOLUTELY you can if it is a renovation loan. The maximum loan amount is 95% of the value of the property WITH the repairs and improvements completed. This type loan is not offered by all lenders but PrimeLending offers all types of renovation and repair escrow options. Most of my business is local but I do loan in Missouri (actually grew up partly in KC) or can help find you someone in MO who will do a good job for you. pdumouchel@primelending.com or direct 843.619.6025

Generically speaking, no. But there are a small number of programs available that may in your area. Contact a local licensed non-bank Loan Officer for specific answers to your individual situation.