Athenajernig…, Home Buyer in Washington, DC

I AM BUYING AN INVESTMENT HOME BETWEEN JANUARY AND FEBRUARY TO RENT OUT. MY RANGE IS 100K - 150K. I PLAN ON NEGOTIATING TO A RANGE FROM 55K TO 75K

Asked by Athenajernigan, Washington, DC Tue Nov 13, 2012

IF MY RANGE IS 55K TO 75K CAN I PUT 1000.00 DOWN AS A DOWN PAYMENT AND WHAT WOULD MY CLOSING COST BE?

Help the community by answering this question:

Answers

4
It is essential that you discuss your financial options with your mortgage broker or loan officer. He/she can help you in understanding different financing programs that will suit your needs.

Best of Luck,

Maria Cipollone

Century 21 Tenace

http://www.Flahomesepcialist.com
4 votes Thank Flag Link Wed Nov 14, 2012
When you are ready to buy I work with REO properties and Investors daily. I also receive listings of foreclosures held by my company as soon as they hit the market.

I can add you to my email list to receive bank owned listings.

Erika Davis
Atlantic and Pacific Real Estate
Erica.davis@apreus.com
0 votes Thank Flag Link Tue Dec 18, 2012
Are you working with an agent now? I have several properties I am sure will fit your portfolio. Call or email me. As far as the down payment you will need 10% down if you are financing. The $1,000 will be your EMD (earnest money down).
0 votes Thank Flag Link Wed Nov 14, 2012
I would suggest you speak with a local lender that deals with investment lending. From my practices, down payments normally range from 10-20% of purchase price (sometimes more with investment properties.) If you need some referrals to lenders that do investment loans, feel free to email me directly. I will be glad to share my resources with you.
0 votes Thank Flag Link Wed Nov 14, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer