My Home Depot - Is it possible, as a first time home buyer, to get a home loan and have money left over for renovations?

Is it possible, as a first time home buyer, to get a home loan and have money left over for renovations?

For example: Can I take out a loan for $100,000 but buy a house for $90,000 and use the rest for renovations? If not, what options do I have to immediately make renovations to my home?

Public Comments

The last I heard, the only REAL financing available is for 80 Percent.. so you have to come up a 20 PERCENT DOWN PAYMENT.. that doesn't sound like you can get a loan with ANYTHING left over... for renovations or anything else.
You use to be able to do that. Not any more. Now the mortgage companies give you just what you're paying for the house. I am doing it now and would also like to do the same thing... :-(
Oh dear, you don't seem to have got very far with your answerer's do you, Morgan S trying to rope you in to his little scam that no doubt pays $500 a week for doing next to nothing and George S and Sun S both Nigerian scam artists who will both want a big fee off you and you won't see anything of your 'loan'. Try to e-mail them both, no, you can't, they've both got their e-mails blocked, I wonder why?
they have what is called a 203 k. it is a fha loan for fixer upper homes. you have to put 3% down.
Not going to happen straight up. So geuss you need to have some money or do it a little at a time
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