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Margie Perez's Blog

By Margarita 'Margie' Perez | Agent in Saint Petersburg, FL

Investors can purchase a home with 5% down payment using Vendee Financing?

As Your REO/FORECLOSURE SPECIALIST, Margie can assist investors and buyers with a great financing program called Vendee Financing.

Vendee Financing is a loan product offered to purchse VA Real Estate Owed (REO) Properties. Vendee Financing is offered to both Veterans and Non-Veterans. Some of the guidelines are listed below:

•Seller may contribute up to 3% of the contract sales price in order to pay for closing costs (including the $2500.00 origination fee), prepaid and other expenses.

•Vendee mortgages are assumable by qualification.

•Vendee financing is not a credit score driven product.

•There are two available terms, a 15 and 30 year fixed rate.

•There is a VA funding fee of 2.25% which cannot be included in the Seller concessions.

Non-Owner Occupied purchase:

• Investors must have experience managing rental properties in order to include anticipated rent on subject property in underwriting.

• No maximum number of investment properties.

• Can be financed with as little as 5% down. Investors may use 75% of anticipated rent based on appraiser's estimate to offset the subject property monthly payment.

Owner Occupied Purchase: 

• Can be financed with as little as 0% down 

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