Title One loans - HUD (loan, refinance, 203k, bank)

[tinytrump]

I ran out of funds for my newly purchased short sale- I did a lot things- it is livable- with new floors etc. but within the next few years would need to replace the roof etc. Now- I walked in with equity but not enough to do a 2nd mtg or home improvement loan- 20/80 LTV. required at my CU--so I came across this Title 1 loan- Could not find a bank in FL but in RI-- any input?

[tinytrump]

nobody knows about it?

[Pfhtex]

Either a FHA 203k Rehab loan or a conventional Homestyle rehab loan will allow for a refinance that bases the value on the post-improvement value, thus allowing you to roll in rehab expenses. These are common. The FHA one is a bit more of a headache.

[tinytrump]

This is 2nd not a refi loan and extra benes/ and interest deferred- I think if you save energy -like in solar power. But in FL I still think that's an issue- I am not ready yet- just asking questions