Because there is a finite amount of qualified debt in the world, Westcastle anticipates a hard close once they reach $250 million.

lot going on in this post.first, no way will you get a 5.5% on a non occupied investment property.(2) you *may* end up with positive net income on the property without having the mortgage writeoff - this means a visit from the tax man. as an investor, the "write offs" or tax deductions you will receive, if your business entity is structured correctly and your CPA knows what he/she is doing and you keep tabs on it, will far exceed any write offs you will earn anywhere else...look at it this way...IF...you HELOC...taking 100k out of your property...now you've got 100k to invest in an reo or other distressed property - CASH...real estate is about leverage...but with the CASH purchase, it frees you up to do many different things down the road...IF...you "buy right" (below market value > 30%) - combined with the CASH purchase, you'll create a return on your investment that is EXCELLENT.if you took an arbitrary 100k (from anywhere, say it grew on a tree) and you stuck it in a savings account earning 5% (which is a lot for a savings account)...compare that to the 20% return you'll get off the monthly cash flow from a good rental...not to mention depreciation..and future leverage options available to you through this investment...the returns just compound.now this all deserves a qualifier...we don't know the specifics of your current home, your finances, what you owe on it currently, other debts etc.all that must be taken into account.

If this is a primary residence, then perhaps FHA would work at 97%LTV.I'm also not sure why you are looking for full OR stated doc since if your borrower qualifies with full income documentation they will always get a better interest rate and higher LTV.There's just not enough information in your post to warrant a phone call to you but if you want to discuss further, shoot me an e-mail.Ken StampeBank of AmericaMortgage Lending

One of the major benefits is qualifying as a real estate professional and i still havent had a chance to get all the details on that until i speak with someone with a CPA.

Talk to any qualified attorney and they will tell you to not do it.

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).

the state programs are really federally funded - the money allocated to local areas from the federal gov't is managed by local towns and offered to people who qualify through an application process.are there progams available to investors?

Depending on your credit, you could qualify for 100% financing.

You must have a "Qualified Intermediary" also known as an "Accommodator" involved and assigned into the sale transaction before it closes.

In highly appreciating markets, people may take the opportunity of selling their personal residence (where no capital gain is due below $250,000 for a single person or $500,000 for a married couple) and moving into a former rental property for a specified time period in order to turn it into their new personal residence, and thus avoid capital gains taxes.In order to qualify for this exchange, certain rules must be followed: 1.