what type of loan

There are a couple of options. As others have indicated, the typical answer would be a FHA 203k (streamline). Keep in mind that there are two versions. There is the 203k streamline and the FHA 203K. The difference is the streamline 203k has a maximum amount you can build in for improvements of $35,000 on top of the purchase price. There is a list of improvements that can be made. Not all improvements are eligble.In the event you are looking to purchase a home and it needs more than $35,000 in improvements, you can then do the FHA 203K. This involves more oversight and also has a different cost structure due to the need to verify that the work was completed properly. Keep in mind that in both versions of the program, that the work must be completed by a licensed third party contractor.If you already own the property, then the program would be a cash out refinance. You could do a FHA cash out refinance, a VA cash out refinance (if you are a veteran), and or a Conventional Cash out refinance. The maximum that you would be able to borrower would be 85% of the current appraised value. Each program has slightly different interest rates. A 30 year fixed rate today is approximately 3.75%.If I can be of any more assistance, please go to my website: www.lowratefinderonline.com or call or text me anytime at 920-277-3595. My name is Joshua Wachowiak and I am the Appleton Branch Manager of Freedom Mortgage Corporation.

For most people, that would be an FHA 203k. It is a great loan for those who qualify... We do 203k loans in WI, so visit www.JoeMetzler.com/fhaloans.htm for more info.

The 203k is probably what you are looking for. Great loan for doing rehab work and rolling it into the loan. We are a lender right here in Wisconsin. If you want additional program information visit our FHA 203k page on our site http://bit.ly/zHaOzu or give us a call at 877-240-5810 or 608-245-6905.

Hi Michael, Is this a purchase or a refinance? You are looking at a 203K or a cashout.

FHA 203K rehabilitation loan... WilliamAcres.com

As others have mentioned you are probably looking at a 203K FHA loan. If you can keep the amount you need to fix up the house below $35,000 you would be looking at a streamline 203K loan which is much easier and less costly than the regular 203K. I suggest you contact one the Lender 411 professionals who can give you accurate information based on your unique situation. Good Luck...

The biggest question is what type of improvements you are talking about and at what cost. If you are looking at around $5,000 or more, and these are funds you don't have or don't have easy access to, then I would recommend the FHA 203k loan. These are great loans and there are a lot of things you can get done with them. Here are some of the basic parameters: The home must be owner occupied as your primary residence. You will be required to put at least 3.5% of the contracted purchase price down. You can finance improvements or repairs required to make the home comply with FHA "Health and Safety" requirements. In addition, you can do things like new flooring, new countertops new cabinets. You can have room additions, new roofs, new windows and doors. You can modernize kitchens and baths, move walls to enlarge rooms or otherwise change the general floor plan. You can even use the funds to buy new appliances. Ultimately, the maximum amount you can spend is limited to an appraised value that takes into account the value of the improvements. Working with the right Mortgage Broker, you can even borrow up to 115% of that proposed value. There are additional costs involved, so if you are looking at modest repairs like paint and carpet, it may be less costly to do something like a Home Depot or Lowe's 12 months same as cash financing. To find out what you are eligible for, contact a local Mortgage Banker/Broker, rather than one of the big banks. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. Most of the big banks cap your expenses at only 105% of the proposed value. Whoever you use, check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com