Here's A 10% Down Payment Loan For Real Estate Investors...

Good Morning! 

Most loan programs for real estate investors require a minimum of 20% down.

However, there is one program that only requires a 10% down payment.

Fannie Mae foreclosures that are listed as qualifying for the Homepath program have more favorable financing for investors.

The benefits to investors are...

1) Up to 90% LTV financing.

2) 660 FICO score minimum.

3) No MI.

4) No appraisal.

5) Up to 2% sellers concession from Fannie Mae.

6) 75% LTV with a 620 FICO score for over 4 financed properties.

7) Up to 10 financed properties total.

Just ask your Realtor to do a search for Homepath properties. ...then call or email me, and I will get you the loan.

 

Have a good day today!  ...and thanks for reading.

  

Brett

 

  

To see if you qualify for a mortgage right now - CLICK HERE  and fill out this simple application.

To sign up for my weekly mortgage quick tips - CLICK HERE.

  

What To Do When Your Spouse Has No Credit Scores...

If you are trying to buy a house - but your spouse has no credit scores you have a problem.

The problem is that you can't use your spouse's income for your loan, because they won't be allowed to be on the loan.

     ...but, not if you use me as your loan officer!

As long as the other aspects of your loan are strong - I can add the spouse with no scores to your loan - AND USE THEIR INCOME!

So, if you know of someone in this situation - let them know about me. ...I can probably help them.  

 

Have a good day today!  ...and thanks for reading.

  

Brett

 

  

To see if you qualify for a mortgage right now - CLICK HERE  and fill out this simple application.

To sign up for my weekly mortgage quick tips - CLICK HERE.

  

HOW TO BUY A HOUSE THAT NEEDS MINOR REPAIRS – AND, A SHORT VIDEO…

Two things today…

1) Tip on how to buy a house that needs minor repairs.

2) Short cool video: 7 steps for how to keep a positive attitude.

Problem: You are in the process of buying a house that needs minor repairs – but the seller refuses to do them – what do you do? 

This situation happens a lot, especially on bank owned homes. 

The simple answer is to use an escrow hold back. …an escrow hold back is a small amount of money that is held out of the seller’s proceeds from the sale to make the repairs. 

You have to write the escrow hold back right into the contract – under special provisions. To avoid having to rewrite this clause – be specific. Your realtor will need to write – “An escrow hold back in the amount of $______ will be used for (specific) repairs.” 

One key with the escrow hold back is the repairs need to be minor – and they can’t take that long to finish. …an average amount of an escrow hold back is $1,500 to $5,000. 

Knowing how to solve minor repair problems on an offer – can sometimes make the difference between getting a great deal on a house, or not buying it at all. 

If this situation comes up with your deal – just give me a call – I can help you out.

Here’s the video I promised you…    

Have a good day today!  …and thanks for reading.

Brett

To see if you qualify for a mortgage right now - CLICK HERE  and fill out this simple application.

To sign up for my weekly mortgage quick tips - CLICK HERE.