Creative financing avoiding large downs

I want ideas scenarios and methods of creative financing. For example, assignment with a sunset clause, owner financing run to the bank and cash out the owner , non-exclusive option to you and quitclaim to him for say 60 days each one in return for the other. What I am asking for is methods of no money down financing or turning buying a new property not in your name into a refinance so you don’t have to pay the full down. Any other ideas.
Got any other financing ideas. I am all ears.

Lease option!!! :slight_smile: a great way to buy for zero down. Too long to explain it all here, but when you pay 12 months of payments to a seller - there are lenders that will consider you the owner and refinance it at the appraisal vs. purchase price. Awesome deal! Get the deed - Subject 2 - then refinance! Have the seller hold a second mortgage for a percentage - ie get a loan for 80% of deal (so no PMI) and the seller holds a note for 20% - then refinance and cash them both out into one mortgage - assuming enough seasoning and enough equity on appraisal. Talk to some local lenders - and search around for a good one - or ones. There are many out there that have creative programs…
Wendy Patton

You can also try “grants”. Some programs allow 5% for closing and DP.

DAvid Garcia

Wendy, I like your response. What kinda language do you use in the sub2 contract to actually get the deed?

I have a few properties that I bought Sub 2. My lender says they won’t refinance these at !00% of the loan which is less than 80% of appraised value. How do I get around this? How do others handle refinancing sub 2’s?

Find another lender. I refinanced 10 or 12 with one lender and pulled out cash. I used Indymac Bank at the time . They were really agressive and wanted my business.

Good luck and thank you,
Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas 78737
512-301-9171 home
512-587-6177 mobile

The most creative method I have used is:

tying up a home for 80% of value.
Find a buyer & sell fro 100%
Assign seller the right to sell to my buyer for 100% but seller will only keep agreed 80%

My position is protected by a notarized “assignment of contract with seller”.

David Garcia

Do you have other financing ideas. I want to get as many as I can.

Did I miss 100% financing?

Most of this kinda just flew over my head, specifically the “Subject 2” part.

In the great words of Homer Simpson “Huh?!?!”