Updated over 12 years ago on . Most recent reply
Foreclosure Purchase
Home Purchase on the BiggerPockets forums
http://www.biggerpockets.com/forums/311/topics/96978-home-purchase
I'm making an offer on a investment property this week. The home needs a little repairs.
I don't won't to put 20% down and I have enough to purchase the home on a card. If I do it this way it would Be 0% interest. Also I won't have to put anything down.
Once I get the repairs done my local credit union said they would lead up to 80% of the home appraisal value and I could pay the card off.
If I don't do that and put 20% down they will only lend 80% of the purchase price.
Would this Be okay way of getting in this deal and avoiding the down payment?
Thanks