real estate: A wise time to invest?
- 04/23/08 02:32 AM
Rates are good, but investor loans are under a microscope right now due to the high percentage of foreclosures in our local market. Florida was recently declared a declining market, making it harder to obtain the "favorable" financing we all grew accustomed to (ie: 100% owner occupant loans, no-doc, stated income, etc). Now our market is seeing a rise in FHA loans since they typically require only 3-5% down for owner occupants, and you can use "gift" money for a down payment. PLUS, you can negotiate up to 6% in seller concesssions (closing costs) in the contract, whereas 3% was the maximum … (0 comments)
Rates are good, but investor loans are under a microscope right now due to the high percentage of foreclosures in our local market. Florida was recently declared a declining market, making it harder to obtain the "favorable" financing we all grew accustomed to (ie: 100% owner occupant loans, no-doc, stated income, etc). 
;)
;)
