O down investment loans

[spidermonkey]

Hey there,
  Looking to buy a duplex. One half owner accupied, renting out the other half. Anyone know of any loan programs that don't require the traditional 20% down payment. I don't want to use all my capital for down payments.
Thanks .
Vaughn

[Investment Loans]

Almost any lender has a 100% financing program for owner occ.  The question is whether or not you can qualify for that.  Actually that's a series of several questions.

Here's a couple.

What's your middle credit score?

How much in the bank?

[kdhastedt]

This scenario could qualify for a HUD loan...

Keith

[spidermonkey]

FICO score 720. Two decent incomes in the household(Both R.N.'s) Won't have a problem qualifying.Live in Northeast PA. Most mortgage brokers i've run into are looking for at least 10% down on an Owner occupied duplex with rental. I'd rather save the down payment money and make improvments to the property for equity sake and to increase rental amounts. So I'd rather do 0% down.
Thanks
Vaughn

[bighouse]

FICO score 720. Two decent incomes in the household(Both R.N.'s) Won't have a problem qualifying.Live in Northeast PA. Most mortgage brokers i've run into are looking for at least 10% down on an Owner occupied duplex with rental. I'd rather save the down payment money and make improvments to the property for equity sake and to increase rental amounts. So I'd rather do 0% down.
Thanks
Vaughn

8)Have you asked the owner about financing at least the down payment?
             john

ps also fron north east pa.

[Investment Loans]

100% should not be a problem with that score, income, and assets for a 2 unit that's owner occ.

If as brokers we have access to 3-4 unit 100% for non owner, trust me, there's owner occ loans available.

[Lendinghand]

100% should not be a problem here.

[Mdhaas]

spidermonkey,  I have to agree with everyone else.  Unless there is something that you are not telling us, 100% financing is not an issue.

[spidermonkey]

Thanks for your replies, everyone. I was simply going on what my bank was telling me. I did some extra checking around with actual  mortgage brokers and it's no problem.
Again ,thanks for all the info

[john1]

Yup! 100% would not be a problem at all