There are quite a few HML rehab programs that will lend you 100% of the purchase price + cost of repair + closing costs (and in some cases, allow you to roll in the mortgage payments) assuming that the sum total doesn't exceed the ARV allowance of the program.

Gotta be realistic with sources you're pursuing, for me REO's and Private lenders have worked but the quantity of contracts that I thrown out there has been a lot, basically like fishing.

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angieslist

Regards,

Scott Miller

If you could find the perfect program to help you invest what would it be?

I saw a couple of posts on the site asking about the appraisal process so I thought I would give you guys info from the source.

Based on what I've heard from various trusted sources, many feel that there is still substantial downward price movement to come in this market.

My partner had a 660 to start, which isn't great but was the min FICO for the loan program.

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Family, friends, agents or various sources and the local press.S CA has had three down markets in about 30 years.

i didn't follow up as i chose not to pursue the property.i work for a lender and they apparently still do loans as low as $30k, but i'm an employee so their programs are different.my thought is that if it is in an area w/low values, someone has to be out there lending.my advice is to get in touch w/a great local mortgage broker.