5% Down investment loan

From VA website, if you want to pay less than 20% down this is the only way I know of has an investor.

VA Vendee Quick Facts:
• Any purchaser can apply for Vendee Financing. You do not have to be a Veteran.
• Vendee financing is available for non‐owner and owner occupied.
• Low Interest Rates
• $2500 origination fee includes: credit report, tax service, flood certificate and closing costs.
• The seller may contribute up to 3% of the contract sale price for closing costs.
• No pre‐payment penalties.
• An appraisal is not required for underwriting.
Non‐owner occupied only:
• No maximum number of investment properties.
Vendee financing is a loan product offered to purchase VA Real Estate Owned Properties. Vendee financing is offered to both veterans and non‐veterans. Some of the guidelines are listed below:
• Seller may contribute up to 3% of the contract sales price in order to pay for closing costs (including the $2500.00 origination fee), prepaid and other expenses.
• Vendee mortgages are assumable by qualification.
• Vendee financing is not a credit score driven product.
• There are two available terms, a 15 and 30 year fixed rate.
• There is a VA funding fee of 2.25% which cannot be included in the Seller concessions.
Owner Occupied purchase:
• Can be financed with as little as 0% down
Non‐owner Occupied purchase:
• Can be financed with as little as 5% down. Investors may use
75% of anticipated rent based on appraiser’s estimate to offset the subject property monthly payment.
• Investors must have experience managing rental properties in order to include anticipated rent on subject property in underwriting.
• No maximum number of investment properties.
TO VIEW VA REO PROPERTIES, VISIT VA.Equator.COM.
FOR MORE INFORMATION OR FOR A FREE PRE‐QUALIFICATION, PLEASE CALL
800.816.4346 TO SPEAK WITH A QUALIFIED VENDEE REPRESENTATIVE.

About Nathan Neely

Nathan Neely is ranked in the top 1% of all agents on Trulia! Here is his quote: "My name is Nathan Neely, and I have been putting smiles on people's faces by finding the perfect home for over ten years. The best part of my job arrives each time I hand over the keys to an excited buyer, and this huge smile and glimmer in his/her eyes appears."

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4 thoughts on “5% Down investment loan

    1. You don’t have to be a veteran to take advantage of VA Vendee Financing.

      Bank of America is no longer offering this program, the VA is transitioning to another lender, but there is not much information on who that lender is.

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