Buy and hold Loan first time home buyer

[Brandon Kalker]

Good afternoon,

I have 15k cash and I'm looking at purchasing a property between 100-200k. I'd like to rent that property out asap as I am already in a comfortable living situation. 

My question is what types of loans are their if their are any that would only take 5% or so down and not have me live in the house for a year before renting? 

and is their any way around that?

Thanks,

B

[Paul Welden]

There are other types of rehab loans other than the FHA 203k and some even let you be an investor.

Fannie Mae Homestyle
Freddie Mac ChoiceRenovation
VA Renovation Loan

You probably want to consider the Homestyle for non-occupant borrowers regarding a rehab loan.