usda renovation product?

USDA does allow for this but I know of no lender that does.. FHA 203K allows for a rehab loan, but the monthly MI for FHA is EXTREMELY expensive.. your better off looking for a 2nd mortgage or just paying for the improvements as you go.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

The guidelines for USDA actually allow for any "excess equity" to be used for potential cosmetic improvements, but there aren't any lenders that I know of that will actually provide financing for those, which would be in addition to the sales price. You would need to look at the FHA 203K for any purchase / renovation financing which will require 3.5% down payment or the Title I loan also insured by HUD, which you can obtain after closing on a property. The max loan is $25,000 and can be used for most renovations. Visit the link I am providing for more information on this program which actually does not require equity in the property! http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/title/ti_abou

None that I know of.