Posted by Dan kelley on October 23, 2000 at 07:03:22:
$1000 down 8% int 30yrs for all buyers.Yes non owner occupied same terms.Investers around here are buying these up fast because of the terms.
Posted by Dan kelley on October 23, 2000 at 07:03:22:
$1000 down 8% int 30yrs for all buyers.Yes non owner occupied same terms.Investers around here are buying these up fast because of the terms.
Buying V.A at FMV and still making a profit? - Posted by Dan kelley
Posted by Dan kelley on October 21, 2000 at 21:36:14:
Anybody have experience with V.A sales?Seems like a good way to buy some houses.Example in my area 2/2/1 for $50,000-FMV- needs no work,$1000 down $360 a month for 30 yrs.Game plain -lease option for $2500 down-$595 fair market rent and $67,500 option price.What do you think?
Re: Buying V.A at FMV and still making a profit? - Posted by Dave T
Posted by Dave T on October 22, 2000 at 21:46:29:
In the Washington DC/Baltimore MD markets, VA often offers 100% investor financing on VA foreclosure property.
Re: Buying V.A at FMV and still making a profit? - Posted by dewCO
Posted by dewCO on October 22, 2000 at 20:55:23:
A new loan for $1000 down??? Don’t think so for a non owner occupied. You’re committing loan fraud if you the lender asks and you lie about occupancy status.
The option price sounds high.
Re: Buying V.A at FMV and still making a profit? - Posted by Mark (SDCA)
Posted by Mark (SDCA) on October 23, 2000 at 13:14:58:
He is absolutely right. VA has gone nuts. They are now offering 95% LTV financing in my area, at owner occupied rates, no PMI. THe problem is that investors are bidding these up to as much as 15% over FMV. If you can get it for FMV, there is no beating the financing. And yes, you CAN make money. Just make sure it cash flows NOW.
Mark