Updated about 11 years ago on . Most recent reply
30% Down or 30% Equity?
Hi,
I'm curious. With capturing deals with built in equity (let's just stick with the 70% ARV for now, but assume also that the house is move-in ready... as such 30% of current market value), do I need to put money down (say 3.5% for an FHA loan) when I have 30% equity built into my purchase price?
Assuming the appraisal comes back with a value much higher than I'm paying for it, is that spread enough to waive the downpayment requirement?