Tuesday, February 15, 2011
Buy San Jose Investment Property with only 10% Down!
Yes, there is a god after all. It used to be you had to put down 25% if you wanted to buy a home that you planned to rent out. Now Fannie Mae has a program that allows investors to purchase selected Fannie Mae owned homes for only 10% down! These homes include single-family homes, condos and town houses which were acquired by Fannie Mae through forfeiture, foreclosure or deed in lieu of foreclosure. If you don't have a large down payment, here is your chance to get into real estate investing in San Jose !
Each property is sold "AS-Is" so you need to be aware that repairs may be needed to the property. By the way, if you intend to live in the property, you can get in with as little as 3% down for primary residences as well as 2nd homes. You might ask why is this different from an FHA loan with 3% down? The answer is, no MI. That's right, no mortgage insurance. No appraisal required either. But, the property must be designated as a property within this specific program.
If you are interested in checking out these properties to purchase for primary residence, investment property or 2nd home, please contact me directly: Geoffrey Gault 408-202-2089
San Jose, CA CA DRE # 01129916 NMLS# 346758