Property Q&A in San Antonio>Question Details

Ricardohimed…, Home Buyer in

What I need to do for triat to get this house with a bank loan?

Asked by, Sat Jan 26, 2013

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To answer your question directly... if the home is beat up and in need of heavy repairs, you will need at least 20% down in most cases with banks or mortgage companies.

There are other ways for foreclosures...

VA - VA Vendee Financing - Looks and smells like a VA loan, but with a slightly higher interest rate... not much... but it's a zero down program

HUD - A lot of HUD homes are offered with a $100 move in.. If FHA Insurable, the home can be financed with 3.5% down if the move in special does not apply.

Bank Owned - Some banks will offer special financing on some of their REO foreclosures, but that is usually on the higher end luxury side.

Fannie Mae Homepath - Great loan with as little as 3% down, and they even offer a Homepath Renovation loan to help you fix it up.

I seem to do a TON of foreclosures... so the good news is.. I can walk you through all of that...

Best lender to start with: - she has every program under the son and the lowest interest rates you will find anywhere.

Second part:

Take the listings you see on RealtyTrac with a grain of salt. The vast majority of the homes listed are not even for sale, and when they are, they are nowhere NEAR the price they have listed. They are the ultimate TEASE..

This home is not currently for sale.

But.. to save you some time... Here are all the foreclosures currently for sale at $100K or less:…

There are 80 of them currently for sale in all areas as of this writing... if you like any of them... we need to go see them ASAP!! They sell fast as all get out in this price range...

Jason C Campbell
Platinum Top 50 Finalist
Option One Real Estate
0 votes Thank Flag Link Mon Jan 28, 2013
Please find your next home at
Then contact me to start the process, or if you want, first let's obtain a pre approval from one of the many lenders I know.
Good Luck
Jose L. Novelo
0 votes Thank Flag Link Sun Jan 27, 2013
Yet another Realty Trac issue - as I have said before, talk to a couple of Realtors who have real time and accurate information and let them guide you to your real estate requirements.

Royce Simmonds, Broker-Owner
Simmonds Real Estate Inc.

36 Years Air Force Service (15 Enlisted/21 Officer)
0 votes Thank Flag Link Sat Jan 26, 2013
I have spent 21 of the past 25 years buying foreclosure properties. There are many ways to do this. If you'd like help, contact me by text or email: 210-837-7378 or
0 votes Thank Flag Link Sat Jan 26, 2013
This listing is not really a house for sell. Realty Trac puts houses on Trulis that have been posted forclosure because the homeowner is behind on the payments. It may never be foreclosed on if they caught up the payments. They are just trying to get leads to sell yu other houses.

I can help you find a house in your price range if you would like.
0 votes Thank Flag Link Sat Jan 26, 2013
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