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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)
#11 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
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Rudi Hofmann (CaPortfolioLoans)
#281 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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