Buying a foreclosed home
I am looking at purchasing a foreclosed single family home that is selling for approx $135,000. I am a first time home buyer and would prefer to put a minimum down payment of around 3-5%. I wanted to see if anyone could offer any advice on how to finance or what type of mortgage to use? I have good credit and am weighing options of getting PMI or using an FHA loan... There are some rehab costs, I estimate about $15 -20k and so I wanted to save cash for that - with the intent of flipping or renting out (both prospects very viable). Thanks for any suggestions!