Comments on: Using Investment Property Loans To Leverage Your Assets

By: rmc62788

rmc62788 — Thu, 09 Oct 2008 11:10:16 +0000

Wachovia is now owned by Wells Fargo, and to my knowledge no bank in the USA has a no money down loan anymore.

You need stellar credit, solid income history, and in most cases 20% down.

By: sweeetj99

sweeetj99 — Thu, 09 Oct 2008 08:40:17 +0000

By: time4mel

time4mel — Wed, 08 Oct 2008 10:14:43 +0000

Our bank even offers 100% loans on Investment Properties.

They are a little more difficult to qualify for, but they are there.

Also, the interest rates start going up after the 80% mark, so if you are looking for a "cash flow" property, the 100% loans may not work well for you. It depends on what area you are in and how much you are buying the house for.

If you are looking to flip the property in a short time, then who cares about the rate. Just get in, get out and take your profit.

Thanks,
Greg

By: 723

723 — Wed, 08 Oct 2008 07:01:07 +0000

They are different types of loans available out there. Most of them are dependant of you personal financial situation. The best way to really find out what is available to you is to stop by several mortgage places and evaluate what they have to offer

-J

By: Dan N

Dan N — Tue, 07 Oct 2008 04:26:51 +0000

If you get taxes prepared by someone, just tell them about it. Then you have nothing left uncovered.

By: YouWish

YouWish — Mon, 06 Oct 2008 14:49:12 +0000

None do at the moment, you need 30%.

By: real80sgirl

real80sgirl — Mon, 06 Oct 2008 13:51:48 +0000

"no-doc" means no documentation. If it is a true "no-doc" loan, the lender will not verify income, assets(you still need money down), or employment. You need pretty good credit for these programs and there is usually an adjustment to the rate.