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 the limit is just 85% ltv or 15% down payment with a 660 Fico.
Please remember you have to fully document your income and have adequate liquid assets for reserves (6 months of payments).
Showing posts with label Non owner occupied. Show all posts
Showing posts with label Non owner occupied. Show all posts
Saturday, March 14, 2009
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