I’ve found a property that I’m interested in purchasing. After looking into HML it seems very expensive and does not leave much room for profit. On top of that most of the ones I came across want 15 to 20% down. I thought the primary reason for HML is to not have to use your own money for financing. Are there any loans left out there that allow you to not use as much out of pocket money? It also seems that most loans don’t allow for early pay off. Even the HML’s wanted interest payments up front for 12 months. How does someone go about using little out of pocket money to purchase a house and then sell in 3 to 4 months. Is it even possible anymore?
Welcome
To the mortgage meltdown
Every one in the money game wants more of your skin in the game then ever
And as far as selling it off in less then a 12 months HA unless you sell it on a owner contract and ask and get a large down as well