Updated over 8 years ago on . Most recent reply
Looking for an Investor in Idaho
I am looking for some guidance and am hoping to be pointed in the right direction by those who are in the real estate industry. I have found a home that I am interested in purchasing. However, I will qualify for a FHA loan and the property most likely will not. I am looking to find an investor that would purchase home and carry the note long term. I am not looking for a landlord scenerio. Is this a possibility or no? Thank you in advance for your help.
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@Jaimy Swanson If this is going to be a primary residence, which I am assuming it is since you are looking at FHA loans, conventional loans can be obtained for 5% down. Not quite as sweet as a 3.5% down FHA, but still very reasonable. This still leaves you with rehab costs, but other short term financing, such as the Home Depot Project line of credit might help cover some of these costs up front. Chris Helbling at Idaho Central Credit Union has helped me out with a couple of loans and is very knowledgeable when it comes to financing. Good luck with your purchase.