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Who can offer me a NOO loan on a duplex in Pa that is owned outright?

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mlogan2514 Joined: 22 Oct 2010 Posts: 2 1.82 Dollars($)	Posted: Fri Oct 22, 2010 10:55 am    Post subject: Who can offer me a NOO loan on a duplex in Pa that is owned Like 0 Dislike 0 Hello, I own a duplex in Pa and owe nothing on it. I am estimating the current value at about $40,000 - $45,000 as it sits. I estimate that the after repair value will be approx. $90,000. Initially I planned to live in one side and rent the other, however I may just rent both units. As implied, the property does need some repairs(but is liveable...does have new roof/electrical/plumbing etc). I am looking to obtain some type of loan or mortgage to pay for these repairs in the amount of about $30,000 - $35,000. My credit score is fair at about 650. My income is $40,000/yr. I own no mortgages, but I do have about $15,000 in student loans as I have returned to school and have opted to defer until after graduation. Also, I owe approx $7,000 on my car loan. I do not owe any major balance on any credit cards. Also, this is my first propety/home. Where can I obtain a loan to suit my needs? Thanks
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Sat Oct 23, 2010 1:26 am    Post subject: Like 0 Dislike 0 Hi mlogan, As you don't have a job, it may be a bit difficult for you to qualify for a mortgage. If you have a co-signer, then you can apply for a FHA loan which even allows for non-occupying co-borrower to cosign for a mortgage. You can contact the local FHA lenders in order to get a mortgage. Thanks

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