10% down on Fannie Mae owned homes
Fannie Mae has a new loan program that will allow investors to put 10% down on homes owned by Fannie Mae!
WITH NO MORTGAGE INSURANCE! YEAH!
Here are the details...
90% (10% down) for non owner occupied properties with NO MORTGAGE INSURANCE!
If you are looking for an investment home in Sacramento (or in your area), you know that you will get a better return on your investment if you have less money in the deal. Right now with typical financing (actually offered by Fannie Mae for non-Fannie Mae owned homes), you should expect to put down at least 25%.
Wow! So for example if you purchased a home for $150,000 (not owned by Fannie Mae), you would need to put down $37,500 plus closing costs. If you buy a home owned by Fannie Mae, you only have to put $15,000 plus closing costs. If that does not help you"sharpen your pencil" I am not sure what will! This is a really big deal!
Call me if you have any questions!
Here is a link to find homes in your area:
http://reosearch.fanniemae.com/reosearch/
Here are some other homes available in the Sacramento Area:
Elk Grove... 46 homes available!
Citrus Heights... 21 homes available
Rancho Cordova... 16 homes available!
Fair Oaks... 4 homes available
Carnichael... 14 homes available!
and so on...
It is a sweet deal! You are not going to find investor financing like this!
Happy Hunting