Investing with Homepath financing

[Jimmy H.]

I have noticed some decent deals in my area through the Homepath website. Homepath offers a 10% downpayment for investors.

With the current situation in the credit markets, it seems that this is one of the best options for financing LT buy and hold properties with a low down payment. I am considering acquiring some cheaper SFR as rentals.

What are some of the best financing programs out there right now? Homepath seems to be a good opportuntiy to make acquisitions - but what other financing programs are offering such low downpayments for investors right now?

[Bill Gulley]

True, if you only have the 10% it may well be the way to go, but it was expensive too.
I considered it a year and a half ago and elected to put more down and go with my bank again, no PMI rated at 90%, inspections, loan fees, etc. just appraisal and current credit report and the old FNMA 1003, that was it.
I probably won't hold the property for long, which should be considered too, but if you are buying to hold, the loan costs will be amortized over a longer term and make it more attractive. Good luck.