It can be very difficult finding a home that covers a 100% financing unless you are a veteran or seeking a USDA approved property. If this applies to you, then you should consider a VA or USDA loan. Otherwise, the closest thing you can get is 96.5% financing from an FHA loan. That means only a 3.5% down payment will be required along with closing costs. There are also some community programs that can go along with this that can cover 3% of your down payment leaving you with 0.5% and closings left to pay. I would recommend speaking with a lender directly. I would be glad to speak with you to help and guide you to the loan that best fits you. Well I hope this helps! If you have any other questions or if you would like a loan, feel free to contact me. Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 email@example.com... more
St James Realty, anticipating that your referencing individual units, then each individual unit that carries a distressed mortgage would be handled by that particular lende or lenders, and also add in the condo association. many of the condo associations have filed law suits against the distressed units and are reluctant to negotiate any means of partial settlement. i have experienced files with clear to close by the lenders, fannie mae etc and the association wants a bottom line which is more than can be squeezed out of the transaction. thus is falls apart.
if you are referencing, developer owned units than different lenders/banks have their own procedures of disposing of these units singlely or in bulk. these would be a commercial transaction and you would have to follow a different path to find out who the lender/bank was and how they are disposing of the units. in this situation, investors purchase units at a low price, pay all outstanding taxes, condo and attorney fees on the units. basically they bring the unit current.... more
About $1500 to $1800, depending on the age and size of the home. But you can buy a home in that area for less than that in a monthly payment. Give me a call or check out my website.
Broker, Lightning Realty
Innovation and Experience
Fax (813) 443-0118
List your townhouse with a Realtor as a lease-option on the Realtor MLS system. Then you'll have access to the most efficient way to market your towhouse. You'll have to pay a commission but hopefully you'll find someone who has a vested interest to take over your payments quicker and ultimately end in a sale and at a higher-than market price. The Tampa Bay marketplace is flooded with townhouses and condos.... more
Lease options are not a best case scenario in any market. If you are willing to do it though, listing the property with a REALTOR member of the MLS, and including a lease option in the terms of sale will get you your best results.... more