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No Money Down FHA Loan For Investors (It’s Actually a $100 Down Loan) Tucson Investment Real Estate Financing For No Money Down!

March 13th, 2010 by Michael Oliver

FHA now has a loan program for investors (non-0wner occupied) real estate/ home purchases. Many people don’t realize within the FHA there are many of different loan options since many people option and receive the most common that is for (mostly) first time buyers with great rates and a 3.5% down payment requirement. However there are other loan programs FHA loans have always allowed investors to use them to purchase/ finance real estate what is somewhat new is this $100/ down option for investment real estate. This isnt just in Tucson either it is nationwide available for all non-owner occupied real estate/ homes.

So what are the requirements?

-640 Minimum Credit Score

-No Escrow Holdbacks On The Property

-No More The 4 Financed Properties At One Time

What are the current mortgage rates for this $100 down FHA investor/ non- owner occupied loan program?

-The rates for this program are the same as an owner occupied FHA loan which currently is at roughly 5.25%

Where do I find the properties/ homes that I can buy with this FHA $100 Investor loan?

You can find these investor open HUD Homes through a HUD Certified Realtor who knows about them. Very (and I mean Very) few Real estate agents (Realtors) know anything about HUD homes because of the nature of them. It is worth stating many HUD Homes are good deals and because the public doesn’t know much about them and the real estate community knows only a little more buying a HUD home can be generally purchased for under market values sometimes as much as 15%-25% under. I have seen really nice HUD Homes that were listed for sale under market and due to the unknown nature of them few buyers stepped up and a couple of these homes were bought for amazing deals by the buyer.

The homes that can be used for this type of loan/ financing as an investor is a HUD home that has been on the market for over 10 days and classified as “available for non- owner occupied” bids. After the 10 day mark HUD Homes (Housing and Urban Development) are open to investors and those investors are able to bid and buy these homes. HUD Homes take a special Realtor (HUD Certified/ which I am by the way) to be able to get you into the properties and also to make the bids for you. When you buy (or even bid) on a HUD Home you must use a Realtor to place the bid. HUD Home’s use a electronic bidding process and everything is handled online initially for HUD Homes.

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3 Responses to “No Money Down FHA Loan For Investors (It’s Actually a $100 Down Loan) Tucson Investment Real Estate Financing For No Money Down!”

  1. Joel Says:

    Is this true in florida too? I’m trying to get into investing but I don’t have 20% to put down and I’m having a hard time finding a money partner.

  2. Michael Oliver Says:

    Yes its a national program not state specific. As long as you meet the criteria you should have no issues.

  3. Rick Pacheco Says:

    Does this apply to california and do you work here or do you know any “Hud” realtors in in riverside

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Michael Oliver - Best Tucson Realtor