Options for Investors
Options for Investors
Not only is it an awesome time to buy a home, but it’s the perfect time to buy an investment property. If you already own your own home and are not interested in moving to Tampa Florida – or you can’t because of the 3-year occupancy requirement to keep your home buyer tax credit – but still want to take advantage of the Tampa Bay market, investing in Tampa bank owned foreclosures can be a great way to do so.
In a current lending situation, the bank will often require home buyers purchasing Tampa investment properties to have 6 months reserves of mortgage payments and a twenty five percent down payment. This stipulation keeps many would be Tampa investors out of the market.
Here are some little known tips to help investors buy, regardless of the strict lending requirements:
- Investors can buy a Tampa Fannie Mae HomePath property for only three percent down!
- Any investor, not just veterans, can purchase a Veterans Affairs(VA) foreclosure in Tampa Florida with VA’s Vendee Financing for only five percent down!
- Investors purchasing a VA foreclosure with Vendee Financing can use 75% of anticipated rent to offset the monthly payment if the investor has experience managing rental properties.
Filed under: tampa home buyer, tampa investment, Tampa VA foreclosure, Vedee Financing, low down payement mortgage, foreclosure in Tampa Florida, homepath, fannie mae, tampa property, tampa investor, tampa investment properties