i am interested in buying an investment property in ma for $280,000. the initial liquid funds necessary for
purchse are not available unless i leave my current job (under the erisa act you take money from your 401 K but you have to leave your job in order to have access to it) If i cannot get seller financing, can you suggest any means to purchase this bank owned property ? i currently own a home which i have a second mortgage on and does not have any equity available. both my wife and i work FT and have strong incomes
Unfortunately that is a very tough situation. Investment properties are tough right now. You generally need 20-30% down or you can forget it. I have a number of a very good mortgage person. I do not want to post it here, but contact me and I will give it to you. If it can be done he will find a way. Unfortunately, because it is bank owned there will be no seller financing unless you qualify like everyone else.
Didn’t find what you were looking for? Ask a question!
More Q&A about Home Buying in 01741
View all »
Ask a question
|
|
|
|
|||||||||||
|
|
|
|
|
|
Fair Housing and Equal Opportunity