Rehab loan for a 2 Unit

[Administrator]

I am considering purchasing a 2 Unit property in rough shape and before I go ahead with an offer would like to find out about potential financing. I think the condition of the property will mandate that it has to be a Rehab loan. The property will approx sell for about $115K and needs about $40K in repairs. I might move in there once it is fixed or just keep it as an investment. Also, I can make a downpayment of 20% or more and prefer a Stated Income loan.Any suggestions, which lenders might do such a loan in PA and any advise on what program should I be looking for? Will this qualify for an FHA program?Thanks,Simon


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(Source: mortgagefit.com)