Another surge of foreclosures is expected to hit the market this fall. And, with rates so low, the opportunities for Real Estate Investors are excellent.
Here are 4 Financing Scenarios for a $200,000 Investment Property that would rent for about $1,650 in Eastern Contra Costa County, for example.
I. 10% Down, Full Doc, Fannie Mae Loan at 6.0% at a Cost of One Point: PITI is about $1,347/month.*
*Note: This is HOMEPATH financing for Fannie Mae owned REOs only. There is NO MI, and NO appraisal required. This is the best investor financing available.
Click here for Fannie Mae REOs: http://www.homepath.com/
II. 25% Down, Full Doc, Fannie Mae Loan at 5.375% at a Cost of One Point: PITI is about $1,110/month.
III. 20% Down, Full Doc, Fannie Mae Loan at 5.875% at a Cost of One Point: PITI is about $1,214/month**
**Note: Investors can put 20% down instead of 25%, but the rate is about ½ to ¾ of a per cent higher.
IV. 25% Down, Hard Money Loan at 11% at a Cost of 3 to 5 Points: Interest Only Plus Taxes and Insurance: $1,643/month*
*This is the only option for borrowers who cannot verify income, or for properties with severe condition issues.
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 1197176, NMLS# 310167