home flip: Purchasing a flip property with limited funds
- 03/12/08 02:28 PM
Lenders require at least 20% down on investment property. The best way to finance a flip property is to obtain a short term interest only portfolio loan due in 12 months. This increases the buyers cash flow to renovate the property. Some lenders are willing to set up a purchase loan based on the current appraised home value. This allows a buyer to purchase the home with little or no down payment based on the current home equity. A buyer may also have the option of simultaneously allowing the lender to provide a lien against another property that the buyer owns with … (0 comments)
Lenders require at least 20% down on investment property. The best way to finance a flip property is to obtain a short term interest only portfolio loan due in 12 months. This increases the buyers cash flow to renovate the property. Some lenders are willing to set up a purchase loan based on the current appraised home value. This allows a buyer to purchase the home with little or no down payment based on the current home equity. A buyer may also have the option of simultaneously allowing the lender to provide a lien against another property that the buyer owns with … (0 comments)
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