Got $16k in 1st time home buyer grants for the down payment & closing costs....$8.5k from Obama who was trying to stop the bleeding on the housing crisis and another $8.5k from the city who was doing the same.

If the loan was fully funded at closing and since then the loan is in an interest-only payment period, these numbers would equal. 

The coaching for Jonathan's The Land Method is NOT substantially cheaper. 

I would highly recommend doing a renovation loan like the 203k or homestyle - you are able to leverage SO MUCH CASH for such a low down payment. 

What does my purchase price and down payment need to look like for the bank to provide financing? 

At this point, instead of continuing to pay the interest loan payments on properties that we will never be able to financially finish since the rehab loans will not cover the actual cost of the rehab, I wanted to know the ramifications of returning the properties to the loan servicer, deed in lieu.

Key Deal Points:Loan Amount: $88,000Lien Position: 1st position Purchase Price: $120,000Appraised Value: $250,000Interest Rate/Return: 11% annual returnTerm: 5-year balloon (meaning the entire principal and interest must be paid at the end of the term)LTV ratio: 35.2%---Licensed Lending company for contractsRMLO package completed on buyersServicing company for payment

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

My business partner provided the upfront cash for the down payment, and we used hard money to cover the remainder and the rehab costs.

When do you make owner payments?