Posted by JPiper on January 16, 2000 at 08:09:05:
No lender is going to make a 0 Down loan first of all…unless it is owner-occupied and you have good credit. Clearly, 3 condo’s is not owner-occupied so that’s out. Even at that…you’re not going to find many lenders who are thrilled over making an $8K loan.
So your only solution without using your credit is either 1) the owner finances and agrees to accept 0 down or 2) you take over existing financing subject to and give the seller a note for his equity.
One bedroom condo’s for under $10K huh?