So it 90%-100% Financing Possible?

[Addison Garza]

I've been reading a lot of threads on this forum hoping to get educated on financing one of my first SFR deals. There are a lot of cheap foreclosures in SoCal that I'm hoping to take advantage of. I qualify for an FHA loan however, a lot of run down houses strictly say NO FHA.
Is it possible to obtain at least 90% financing on a SFR between 150-200K via HML?
If so, what are some verified HMLs that would do this type of deal, possibly in California?

[Paul Beauchemin]

If you don't own a home and haven't for 3 years why not buy and move into it for a while? You would qualify for the $8000 tax credit and lower down payment requirements.

however, if the house is really torn up, it likely won't be accepted for FHA financing unless the seller makes some improvements. In that case, hard money is the only way to go.

If I were a new investor with no house, I'd do the owner occupped thing first.