90% no MI - Investment property purchase loan - California Just 10% down payment.
Yes, 10% down, no MI. This is for real. In our last post on our innovative new
"Fannie Foreclosure Mover Loan" I forgot to mention that this program is available to Investors! Investors can purchase select homes owned by Fannie Mae with just 10% down.
Even in California, Florida, and other Declining markets. Even better, the Fico Minimums are reasonable, 660 for loans under $417K. This program even allows ficos down to 580 with 20% downpayment. This is a great loan product for Non Owner Occupied purchases.
For loans over $417,000 up to the current 2009 county loan limit for your area the limit is just 85% ltv or 15% down payment with a 660 Fico.
Please remember you have to fully document your income and have adequate liquid assets for reserves (6 months of payments).
Showing posts with label investor. Show all posts
Showing posts with label investor. Show all posts
Saturday, March 14, 2009
Sunday, February 8, 2009
Rehab Loans for Investors
Rehab Loans for Investors - Buy, fix, & sell homes.
We now have a source that offers Investors the Cash to purchase & rehabilitate homes. With this loan, you can buy the home and get the funds for the rehab project all in one loan.
Let's say you have found a home for sale that is in dire need of serious work. It needs a new roof, kitchen remodel, bathroom remodel, etc. The home is available for $110K. Let's assume that if it was in good shape it would be worth $200K. It needs 35K in repairs. This rehab loan can lend you the money to buy it ($110K) and the money to repair it ($35K) all in one shot.
After completion of one successful Rehab project and subsequent sale of property, you may qualify for an open line of credit to purchase more projects to rehab & sell.
This loan is a key ingredient for Home Flippers. It gives you the financing help to make your project successful & profitable.
These loans are not designed for owner occupied or second homes. Investment properties only, and 1-4 unit residential properties. This loan has no prepayment penalty.
The initial key to how much you can borrow is up to 75% of the After Rehab Value. (50% of the ARV in Detroit & select other markets).
Call us to get started - 760-752-4480 or send us an email at rehab@vandykfunding.com.
We now have a source that offers Investors the Cash to purchase & rehabilitate homes. With this loan, you can buy the home and get the funds for the rehab project all in one loan.
Let's say you have found a home for sale that is in dire need of serious work. It needs a new roof, kitchen remodel, bathroom remodel, etc. The home is available for $110K. Let's assume that if it was in good shape it would be worth $200K. It needs 35K in repairs. This rehab loan can lend you the money to buy it ($110K) and the money to repair it ($35K) all in one shot.
After completion of one successful Rehab project and subsequent sale of property, you may qualify for an open line of credit to purchase more projects to rehab & sell.
This loan is a key ingredient for Home Flippers. It gives you the financing help to make your project successful & profitable.
These loans are not designed for owner occupied or second homes. Investment properties only, and 1-4 unit residential properties. This loan has no prepayment penalty.
The initial key to how much you can borrow is up to 75% of the After Rehab Value. (50% of the ARV in Detroit & select other markets).
Call us to get started - 760-752-4480 or send us an email at rehab@vandykfunding.com.
Subscribe to:
Posts (Atom)