Wholesale homes are available to cash buyers at big discounts. You must be able to pay cash or fund your loan in a few days. Various sources of potential investment properties are available, such as: websites, investment groups, local auctions and private investors. Spend 2 hours a day searching, confirming future values and maybe you could find that "gold". You just have to be patient and wait for the home you want.
Find someone to do the investment property searching for you. You can buy the home using private financing, make your improvements and get ready to sell to the open market. But you have another option... you could change your mind later and buy the home for yourself. You could actually take your time on the loan because it is considered a normal rate and term refinance. You cannot take cash out of the final loan.
Some government agencies sell items to the public through live and online auctions. These auctions let you buy government-owned assets from across the U.S. and its territories. A great example would be going to the sheriff's auction sale and buying judicial foreclosures. The property listings come up randomly and you have to just keep checking. Your other options include: probates, tax collectors, Fannie Mae, FDIC, USDA, HUD AND dept. of Veterans Affairs.
Various types of auctions are available to buy a home at a discount using regular mortgage financing.
The agents and sellers can pay for your closing costs. This can be negotiated in the deal. The "credits" may be limited to a percentage of the total borrower fees. The buyer's down payment on their loan cannot be paid by the agents.
The listing agent and/or sellers can pay the lender to lower your interest rates and monthly mortgage payments during the first 2 years.
Various types of auctions are available to buy a home at a discount using regular mortgage financing.
Relatives can gift funds to help pay for down payments and closing costs. The relative will have to attest that the funds are not a loan and show the funds came from their bank account.
Buy homes at the lowest rates with 3.5% down payments. FHA loans are the easiest loan to qualify for.
We have Fannie Mae and Freddie Mac conventional loans with as low as 3% down.
One of the greatest loan specially designed for our military veterans. These loans start with no money down.
The state's Housing Finance Agency (CalHFA) offers several first-time homebuyer loan programs that provide access to affordable first mortgages. These programs could allow you to borrow up to 105% of a home's value and help fund your down payment or closing costs. CalHFA has six loan programs. Must be single-family, one-unit property, and they require that you be owner occupied.
A physician loan or “doctor loan” is a mortgage specifically for medical professionals that usually doesn’t require no down payment. With other loan types, lenders often want borrowers to pay private mortgage insurance (PMI) if they’re making a down payment of less than 20%. Physician loans make it possible to skip paying for both a down payment and PMI if you happen to be a doctor.
If you are a law enforcement officer, firefighter, emergency medical technician, or teacher, this program may help you purchase a home in a U.S. Department of Housing and Urban Development (HUD) revitalization area by offering qualified purchasers a 50 percent discount off the list price of homes available from HUD's inventory. Must be owner occupied for 3 years.
CalSTRS offers an 80/17 combo loan program to help teachers purchase or refinance a home and are members of the California State Teachers Retirement System (CalSTRS).
CalSTRS is not an actual lender, rather they invest in mortgage notes which are then are paid back to the CalSTRS pension fund.
The Section 184 Indian Home Loan Guarantee Program is a home mortgage specifically designed for Native American and Alaska Native families, Alaska Villages, Tribally Designated Housing Entities (TDHE’s), or Tribes. These loans can be used, both on and off native lands, purchase of an existing home, for new construction, rehabilitation, or refinance.
When it comes to financing your bed and breakfast, you have options. Starting a new business means you can apply for SBA loans – loans guaranteed by the Small Business Administration. You should also consider obtaining a business credit card or line of credit, which are great tools to have for startups that may be experiencing initial operational or cashflow issues.
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You can use fha financing to buy a 4plex and the renters will cover your monthly mortgage.
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You can buy a property that includes a private residence and run the business (or rent it out) and live onsite.
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This is done with a special mortgage that runs through a bank account that takes your surplus funds and pays down your mortgage.
You can find a home and the program will buy the home for you and give you the option of taking ownership when you are ready.
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Grand Avenue Realty & Lending
4420 E. Miraloma Ave., #M
Anaheim, CA 90807
dre: 01171689 / nmls: 366289
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