Tips on Property Investment|The Best Investment Properties Advice
Nov
28
Filed Under (Property Investment Advice) by admin
kerry f asked:
I have recently moved and was a victum to an adj rate mortgage. Now I am renting for the first time in 14 yrs. My family has agreed to purchase a home for myself with it in their name. We have been checking and for them to purchase the home it is %20 down on investment property? There credit is about 695 so a loan is real possible. We are wanting a way to purchase an $80,000 with minumun money down if possible.
Eric
I have recently moved and was a victum to an adj rate mortgage. Now I am renting for the first time in 14 yrs. My family has agreed to purchase a home for myself with it in their name. We have been checking and for them to purchase the home it is %20 down on investment property? There credit is about 695 so a loan is real possible. We are wanting a way to purchase an $80,000 with minumun money down if possible.
Eric
Comments
A D on 1 December, 2008 at 3:16 am #
This could be tricky. Have you spoken w/any lenders? It will be an investment property for your family since they won’t be living there.
Did you lose your house to foreclosure? If so, you probably can’t be on the title/mortgage loan.
Where are you looking to buy property?
Even a FSBO (For Sale By Owner) will probably require a stiff down payment.
How about a VA assumable? I’m not sure the minimum required, but in the past these were assumable with a 1.5% VA funding fee.
Lease to own (contract for deed?)
senzualsindhique on 4 December, 2008 at 4:51 am #
try and find someone that will do seller financing or try and borrow money from elsewhere…maybe a bixness credit card or a credit card that no interest or payments for a long period of time. thanks
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