90% no MI - Investment property purchase loans- California

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 these require just 15% down payment with a 660 Fico (85% ltv).   

Please remember you have to fully document your income and have adequate liquid assets for reserves (6 months of payments).    Please check out our post on maximum number of properties financed for more Investment Property loan information.

Contact us at 760-752-4480  or visit us online at www.vandykfunding.com to get started.   We are offering the Fannie Foreclosure Mover loans in California, Florida, Georgia, Washington, Texas, New Mexico, Los Angeles, San Francisco, San Jose, Orange County, San Diego, Santa Clara, Oakland, & all other cities within our lending area.