How do investors finance their mortgages for HUD/VA homes? (foreclosed, properties) - Lenders, loans, financing, rates, foreclosures, short-sales, brokers, credit score, deed, lien, refinancing, borrowers - City-Data Forum

aphorista · 01-12-2010, 04:42 PM

I was told that I would need to put 20% down for any home bought as an investment, however, I wonder is it different for buying a HUD or VA home. Anyone have any tips on how to proceed or want to share their experience? Thanks in advance.

aphorista · 01-13-2010, 07:08 AM

Anyone?

rjrcm · 01-13-2010, 07:21 AM

You might try the mortgage forum. I don't think any different for HUD/VA. Most reduced down payment programs exclude investors. Fannie Mae has a "HomePath" program with reduced down payment (about 10%), but higher rates for investors on their REO properties.

aphorista · 01-13-2010, 01:10 PM

Thanks for the information. I will ask the moderator to my post to the mortgage forum.

charlesclark · 01-14-2010, 04:57 PM

Some of the HUD foreclosed homes are available to investors. Check the listings for the area that you are interested in. Each home will state if the bids can be made only for ower occupied or if available for investors.

The link to get you started is:

U.S. Department of Housing and Urban Development (HUD)