10% down Investment

[Thomas Pierce]

Is there any banks doing 10% down Investment NOO.

[Joel Owens]

Banks aren't going to fund 10% NOO deals.

They did when markets were on fire and properties appreciated like crazy and nobody saw any risk.

Today they have a bunch of junk on the books they are still clearing out for years to come unless they are a new bank which started in the last few years.

Even if that's the case they will be prudent in amount down to have safe margin loans in a still declining market for most areas.

Data shows when it gets tough investors will let properties go everyday of the week,

If a value declines on a 10 percent down investor loan it will not be enough to cover foreclosure proceedings,attorneys fees,selling the property,trash out,eviction,non loan payments while trying to foreclose,deterioration of property while you wait to sell it,agent commissions and on and on.

It is is easy to see that banks would take a bath on putting just 10% down on an NOO loan.

You need to define if you are wanting a flip or a long term hold.Even if you can find a 10% NOO form a private party you will not like the rate.