Can an SBA Loan Be Used to Buy a House?

September 7, 2009 · Posted in News For Homebuyers 

Here’s a good question posed by carmen25 in Zillow Advice recently:

SBA Loan: can it be used to buy a house?

Carmen explains further about her desire to get a Small Business Administration (SBA) loan:

  • Business is paid off.
  • My husband owns the business but not the real estate.
  • If he were to sell it today, it’s worth $600k.
  • Need a loan for $400k.
  • Can a SBA Loan be taken out to buy a house?
  • Will this be considered an all cash offer for the house?
  • What are the guidelines for SBA to be eligible?

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