Question…
We want to invest in the US.
If we buy a property a SFH 3/2 at the lower end of the medium home price at a discounted rate of at least 35% below market in Texas, fix it up and attempt to sell it at least 10-15% below market value does it sound like a do able plan.
Will all lenders require a 30% down payment from us?
What about the loan requirements/qualify for the first time home buyer (that we intend to eventually sell the property too)? What are the main obstacles the will face?
Does anyone know what the difference, if any (from a lenders perspective with regards to the qualifying and or rates) from a second home or an investment property. Do they fall under the same category?
How tight is the lending requirements for first time home buyers?