in 9rder to buy a home for investment purposes do I have to have good credit

Asked by Shakeeda Jackson, Mon Nov 18, 2013

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7
Michael P. C…, Agent, Philadelphia, PA
Mon Nov 18, 2013
I have an asset based lender with higher than bank rates that will do a lower credit score. Pay now or pay latter.
Michael P. Cohen ABR ASR, SFR, ePro
Michael P Cohen & Company
Associate Broker
RE/MAX Access
1033 N. 2nd Street 5Th Floor
Philadelphia, PA 19123
Direct Line: 610-642-0347
Office: 215-400-2615
Greenfax: 610-680-3688
Cell: 610-331-7213
mskj@comcast.net
1 vote
Good to know, I will keep you in mind, looking to get in the business and doing my research now
Flag Mon Nov 18, 2013
David Siwy, Agent, Southampton, PA
Mon Nov 18, 2013
Pennsylvania is 20% down, not 35%.
1 vote
Harold Lear, Agent, San Diego, CA
Mon Nov 18, 2013
On investment property you Will need 35% down and interest rates are higher than residential loans.
1 vote
David Siwy, Agent, Southampton, PA
Mon Nov 18, 2013
If you get a loan you need a 20% down payment. For example a $100,000 home would require a $20,000 down payment plus closings costs (assume $5,000 or more.)
1 vote
Jonea Price, Agent, Philadelphia, PA
Tue Nov 19, 2013
There are many routes to take to buy an investment property. I work with many mortgage lenders and investor who have financed investment properties in very creative ways. I'd love to share my insight with you. Please give me a call or an email so that we can discuss the many options available to you.

Thanks, and I look forward to hearing from you soon.

--
Jo Major
Keller Williams Realty Group
JoMajor.kw@gmaill.com
267.634.3256
0 votes
Bev West, Agent, Greeley, CO
Mon Nov 18, 2013
When purchasing any property, most of the time you need a good credit score and also a higher down payment than a regular property. The only time this isn't true is if you are paying cash.
0 votes
David Siegel, Agent, Philadelphia, PA
Mon Nov 18, 2013
Not if you pay cash. Money talks
0 votes
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