Posted by JoeA on March 24, 2006 at 12:31:44:
no way in hell…100%, yes. 107%, not available anywhere for investment. owner occupied, yes.
107% mortgages anyone use? - Posted by Bob
Posted by Bob on March 24, 2006 at 12:06:28:
Hello everyone:
I’m thinking about doing a 107% mortgage to purchase an investment condo. The reason for this mortgage is I have little upfront money and want to still be able to purchase investment property. The condo is located in an up and coming neighborhood and I could purchase for 90000 with it being rent out at 950 a month. BTW it’s a 2 bed condo. Has anyone done this type of mortgage? Positives? Negatives? good for investing?