OfflineNeed a little help here.I'm looking at a house that is a Fannie Mae Homepath property.What is the best way to make them a offer and close the deal with no money down,or do i need to find a HML frist
Thankyou:
Moses
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Fannie Mae Homepath property
Posted on: Mon, 03/14/2011 - 23:14
Fannie Mae Homepath property
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- by bigpappa65
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Offers 3% down payment if you use a Homepath loan person. But it is for owner occupied. For Investors they offer 10% down programs. If you want to do a no money down you would have to come up with a HML or private money loan. Plus if you have an end buyer you can do a TRANSITIONAL FUNDING loan with a double closing.
I hope this helps.
Steve.
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Moses,
I don't think I understand what you're trying to do; you want to buy a property with no money down??? how are you planning on financing it?
What kind of property is it? what is its current value? how much does it need in repairs? how much is the ARV? what will you do with the property? what is your strategy? what is your exit plan?
I think you need to some more reading and studying... any of Dean's books would be a good start, if you haven't already done so; or you can enter a topic on 'search/enter' and read the threads...
wishing you success,
valerie
Valerie
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