Can you help with this mortgage question?
I live in Michigan and saw a house that was foreclosed on and it is for sale for $ 63,000. It includes a pole barn and 8 acres of land!
I think we are interested, but I am sure there is work to be done on the house. Will banks give you a loan for more than the amount you are buying the house for? I mean, so you can use part of your mortgage to fix it up too? Will they do that?
Also, can you get a loan with little or no money to put down?
Actually, I also wondered whether your closing costs can be included in the mortgage, so you don’t need that money up-front. Can the home inspection be included?