@Kieran Dowling ah, so I think it would be important for us to speak about the different loan products out there.Generally speaking there are 2 main types of loans for investors: “Conventional” and “Portfolio”Conventional - I'll define these as loans that come from Fannie Mae and Freddie Mac (if you recognize those names).

Sounds like your looking to do the Fannie Mae 5% down program.

For example, Fannie Mae loans if an existing first mortgage is being paid off through the transaction, it must be at least 12 months old at the time of refinance, as measured by the note date of the existing loan to the note date of the new loan.  

I am open in escrow on an investment property that I'm doing with a Fannie Mae loan.

Fannie Mae has standard note and security instrument docsBut my recommendation is always to use an attorneyBut it matters if it’s for your rock collection or for real estate.

You can keep learning here.Generally speaking there are 2 main types of loans for investors: “Conventional” and “Portfolio”Conventional - I'll define these as loans that come from Fannie Mae and Freddie Mac (if you recognize those names).

I have also considered getting a 3% first-time down Fannie Mae loan to secure a property and rent it out by the BR via Airbnb.

A property of interest I saw is a foreclosure, it states it’s, “a Fannie Mae property.”

@Christopher WingoThe FHA 203k, Fannie Mae Homestyle, and Freddie Mac CHOICERenovation are all renovation loans based on ARV. 

Helen,There are more than a few loan programs that offer a low down payment and fairly easy to qualify for a new primary home.FHA 3.5% Down,  Fannie Mae 5% Down, Fannie/Freddie 3% First time home buyers programs.Credit scores under (695) I would suggest FHA due to flexible fico requirements.