Quote:
Originally Posted by mce
Will 5% upfront work?
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5% for what?
We are not taking traditional home (real estate financing).
If you are talking 5% down payment on a home purchase check what the government guaranteed loans require (if you are in the USA). VA loans require 0 down payment -- you got a cousin that was in the Army ;) VA loans are assumable by the next buyer.
If your question is: Is it possible to do a deal with $10K acquiring a property that is
worth $200K -- It's hard but can be done. But you are not going to get a new mortgage loan in the conventional financing market for $190K