first downpayment - Posted by Kyle

Real Estate Investing Real Estate Financing
#1

Posted by Ed Garcia on February 01, 2001 at 10:12:44:

Kyle,

If your credit is good, and since you don’t own a home, you could buy with no money down and 100% financing owner occupied. It seems like that wouldn’t be a bad idea, due to you could use the write off, and get into your first deal as a homeowner.

Ed Garcia

#2

first downpayment - Posted by Kyle

Posted by Kyle on January 30, 2001 at 18:26:48:

Hi All,
I am in the process of looking for my first rental house. I don’t have any money saved up. I don’t have any credit cards or loans. ¿¿My question is where I should get the down-payment for the first loan from?? Any suggestions would be appritiated.

Thanks,
Kyle

#3

Re: first downpayment - Posted by Ed Garcia

Posted by Ed Garcia on January 31, 2001 at 11:41:42:

Kyle,

You don’t tell us about if you currently own a home, or how’s your credit? If you don’t already have a property, and you have good credit with a credit score of 620 or above? You can go owner occupied at 100% financing and the seller can pay up to 6% of your closing cost.

Ed Garcia

#4

Re: first downpayment - Posted by Kyle

Posted by Kyle on January 31, 2001 at 20:35:38:

The only thing I own is few stocks (and I cant really touch those). I have no idea what my credit rating is. The downpayment is for a rental property.

Thanks,
Kyle