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What is the best way to finance a new home purchase and addition simultaneously?

I live in Colorado and plan to purchase a home. Before I move in, I'd like to add two bedrooms and a bath. What's the best way to finance this all at the same time? by kevinlouis2333 from Ouray, Colorado. Jul 11th 2011 Reply

RJ Baxter (rjbaxter)
#10 ranked lender in Colorado - 5 contributions

You could use either an FHA 203K or Fannie Mae Homestyle renovation loan for that. Or there is always the home depot credit card!

Jul 11th 2011
Rudi Hofmann (CaPortfolioLoans)
#280 ranked lender in California - 380 contributions

An FHA 203k will only go to $35k over purchase price. Construction labor and material is not cheap. I suggest you purchase a home that is already constructed to your requirements.Happy funding, Rudi

Jul 12th 2011
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