Don't know if I'll fit in on this interesting board as I don't deal in selling or buying real estate.What I do is buy commercial real estate notes.

and the loan program he is offering will not let the seller pay more than 2% of closing costs.another loan officer is telling me i am getting screwed by the other guy.does any of this make sense.i am going to shop the loan on monday.i would love to hear from anyone on this.vegas

Among that list, for the right type of Client and project, the following program could be an attractive Joint Venture funding option.

And it's usually through like a 80/20 loan program.

Search online and this forum. the information is out there just need to find it. also ask friends and family if they ever purchased some items in the past and read those... i told my parents about my plans and my mother bought a couple of programs in the past where i learned some howto stuff... also on these forums there is a forum dedicated to rate books and other investment tools to see if they are worth it. do more online searching than anything... make sure u dont buy something for it just to collect dust. find out everything for free while u can and make a decision if you really need to buy a book. check out creoline.com also. it's a creative online investing site they advertise products there too but i jus read the free articles.

Perhaps you are referring to the listing Realtor and not someone who you hired to help you find a home.The problem from a conventional financing standpoint is that you have multiple residences on one legal description which makes this a multi-family property beyond the "normal" 1-4 unit residences acceptable to conventional lenders. 2)What is typically done to avoid making a down-payment and/or paying closing costs.If you are asking specific to this property, there probably is no 100% financing option available so you may have to pass on this one.Generally speaking there are many programs for little or no down-payment and you should be talking to a mortgage lender about what you can afford and qualify for prior to looking at homes.As for closing costs, you may qualify for city or county down-payment assistance programs (which are more typically used for closing costs instead of down-payment).

Are there programs available through the state or Federal Gov't that can be a starting point for someone who does not have a substantial amount of income or who might have poor credit???

He bought a big house to move into on the cheap, pulled the equity out at closing using a gift program, then gave the $$ to a holding company supposedly backed by real estate and hard money loans.

Also if anyone knows of great mentorship programs in the area, please share.

There are lots of creative financing programs these days.