Updated about 1 year ago on . Most recent reply
VRM Lending Process
Howdy! I found a home that is an REO and qualifies for Vendee. The website isn't very helpful. I've been able to calculate all my monthly operating expenses, lowest possible rent, and upgrades. The only figure I can't determine is the monthly mortgage because interests fluctuate and the down payment. I've seen numbers anywhere from 5-15% for a down payment. I don't intend to occupy the house as a primary residence but purchase the property as an investment property.
I realize nobody can quote me an interest rate.
Has anybody worked with VRM and Vendee programs within the last 6 months, what have been your experiences, good and bad?