Working With Investors
Zero down real estate investment financing is now available at reasonable rates. While the rates for the program are considerably above the conventional market, they are nowhere near what a "hard money" lender would charge. Generally, these loans are set up as either 80/20 or 75/25 combination financing with the first trust set at 80% (or 75%) of the sales price to eliminate the need for Mortgage Insurance and with a second trust for the balance. Pricing on the first trust is somewhat more attractive on the 75% first with the second priced the same in all situations.
The zero down real estate investment financing program requires excellent credit (720 middle credit score) and you will need to verify 6 months of PITI reserves available. It is a fully documented loan and is available for a single family, townhouse, or condo.