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Updated about 5 years ago on . Most recent reply
No Income - 100% LTV loans - Are they a good idea?
Hello everyone,
My name is Garret Anthony and I have a simple question I want to ask the community.
Would using a no income zero down loan be a good idea?
Thinking about buying a $2,000,000 property with zero down that cash flows 14K a month. It is a fourplex, the IO payment would be somewhere in the neighborhood of 9K a month with taxes and insurance and a vacancy factor I'm looking at 2K a month in rent.
What should I look out for?
Most Popular Reply
Who is offering this type of loan product and why. If it sounds too good to be true it probably is, I'd be hyper paranoid that this is a scam, or has some extremely unfavorable terms. I'd probably stay away if it were me.