All Forum Posts by: Natalia Soares

All In Credit Union has a program that has 0% down for investment properties. We've bought two homes with them in Florida. Its a 10 year balloon but has a 30 year amortization. Try giving them a call.

Hi Jefferson, Do you have a contact that you work with personally that you can share? Thank you!

0 Votes

Hi everyone, I’m looking for lenders that are doing 15% down for single family investment properties in Florida. Many changed their overlays but I will be going through a call list this week but if you personally work/ed with someone and can share contact, please let me know. Whatever I find I will share as well. Thank you!

0 Votes

did you end up finding any lenders?

0 Votes

Try elements financial they offer up to 100% LTV. Google the below exactly

allintext:100% LTV heloc

0 Votes

Elements financial gives up to 100% LTV. Check signature fcu and penfed. If you google exactly as shown below, you can find it.

allintext:100% LTV Heloc

0 Votes

Hi Chad,

if you haven’t found anything, try elements financial credit union, signature fcu and pen fed. They lend up to 100%.

0 Votes

Originally posted by @John Warren:

@Natalia Soares I have used a HELOC many times and I have one open now on my primary here in the Chicago area. The big thing to remember is that the HELOC is just a tool and the interest rate is normally interest only. What this means is that the interest rate shouldn't be the main consideration. Instead, focus on balancing the terms with how much money you can have available. I took out a HELOC with a really bad rate because it allowed me to have more money. Since I only pay the interest (and the rents from my tenants pays that actually) I am fine with the bad terms.

Thank you John. That is a very good point!

0 Votes

Hello,

I have been researching HELOC and was given the below terms. I just don't know which one to choose as all the options appear to be great. I am leaning towards the option that gives me the most amount (167k) but the 64k seems so good. Cash-out is not an option at the moment.

Any help would be greatly appreciated.

Thank you!

Property location: Salem, MA
- Elements Financial: 4.25% (intro 1.99 6 Months) 167,000. Draw 10 years. Repay 15 years

- Elements Financial: 3.75% (intro 1.99 6 Months) 84,000. Draw 10 years. Repay 15 years

- Bellwether Community CU: 3.00% (intro 2.99 36 months) 64,000. Draw 10 years. Repay 15 years.

- PenFed: 4.75% 108,000. Draw 10. Repay 20.

0 Votes

You can put 5% down on conventional. The program is called Home Possible but there are income limits same with the NACA program. Banks and credit unions can have there own programs too for first time home buyers just need to call around.

0 Votes

Originally posted by @Elise Marquette:

Do you mean a second home like a vacation home? In that case, it's 10% down. However if you plan on renting it out then it becomes an investment property which requires 15% down for a single unit and 25% for a multi

Hi Elise, I have questions regarding the Vacation Home. I will message you. Thank you!

0 Votes

All Forum Posts by: Natalia Soares

Natalia Soares has started 3 posts and replied 57 times.

Post: Financing Out of state, Short Term Rental in Florida

Post: 15% down for single family investment property - florida

Post: Airbnb Short Term Lender

Post: Best LTV % for HELOCs

Post: Looking for HELOC at 85-90% LTV

Post: Looking for HELOC at 85-90% LTV

Post: HELOC help. Trying to decide the best option/

Post: HELOC help. Trying to decide the best option/

Post: Conventional loans for multi family

Post: Finance second home