Updated over 12 years ago on . Most recent reply
First Real Estate Investment - Low %Down Payment
Hi all, (enthusiastic) newbie here!
I'm looking to invest in a first home (with plans to invest in another shortly down the road). I wanted to see if anybody had any input on what to do/where to go to qualify for a low % down payment. Are there certain lenders who are more likely to approve low down payments than others?
Additional information:
1) I plan on purchasing a 'turn-key' first home to live in and shortly after settling in I plan to purchase another property that needs some work to possibly flip to build up some capital for the next (bigger) investment. [tentative plans]
2) This will be my first real estate investment. I have been out of school working full time for over a year and I believe my credit score is faily good (I don't know the exact number).
3) Located in Southeast Michigan
Thanks for your input!
-Brad