Investor Financing with 10% down payment

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Mortgage and Lending with Bay Equity, LLC 770-634-4021 NMLS #206275 GA 25689

Yes, you read that correctly.  There is a program that allows for investors to buy a property with a 10% down payment.  This is available wiht the Homepath properties listed on the Fannie Mae (FNMA) website, www.homepath.com.  

While buyers purchasing for their primary residence only need a 3 % down payment, investors can enjoy a 10% down payment requirement.  Most investors have found down payments requirements of at least 25% with other programs.

There is another benefit of this program, NO MORTGAGE INSURANCE!  This additional expense can reduce the amount of buying power for any buyer.  The interest rates are adjusted for non-owner occupied and credit score, but even then it may be a smarter move to go for the lower down payment.

Investors with multiple financed homes will be happy to hear that we can close up to 20 mortgages under the Homepath program.

For more information, please call.

 

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Kathy Sheehan Senior Loan Officer

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770.634.4021

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404.745.8060

 

Bay Equity LLC

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11475 Great Oaks Way, Suite 350, Alpharetta, GA 30002

800.BAY.3703 Bay Equity LLC NMLS ID#76988


 

 

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The opinions and general information in this blog are soley those of Kathy Sheehan.  Specifics regarding an individual case should be discussed in detail with a loan professional.  For a confidential consultation, please feel free to contact me via phone or email.  All terms and conditions are subject to change.

 

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Rainmaker
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Lisa Friedman
Great American Dream Realty - Essex, VT
29 Years of Real Estate Experience!

Kathy, thank you for bringing this to our attention.  When I purchased my last investment property around 6 years ago, investors were maxed out at 10 mortgages before having to go for a commercial loan.  This is great news that investors can have 20 mortgages under the Home Path program.  Thank you for sharing!

Sep 08, 2013 11:24 AM #1
Rainmaker
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Kathy Sheehan
Bay Equity, LLC 770-634-4021 - Atlanta, GA
Senior Loan Officer

My pleasure Lisa.

Sep 08, 2013 11:26 AM #2
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Rainmaker
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Kathy Sheehan

Senior Loan Officer
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