We are currently renting a house, that we would like to buy and close on quickly. The house is located near Austin TX. Owner says house will appraise at $135k, would like to offer $115,000. Motivated Seller. Will provide income and credit scores, and telephone number.
That should be no problem.
There are several loan programs that allow for 100% financing (100 LTV) for borrowers with mid FICOs of 580 or greater.
Have you followed up on this yet?
If not let get from a renter to a home owner.
Would you like some additional information?
It’s assumed that everyone here wants information, that is why they are posting.
Just out of curiosity, where does the interest rate land for this type of loan?
Depends on the loan program.
FHA - in the low to mid 6’s.
Sub-prime - in the high 7’s to low 8’s on the 1st, and around 12-13% on the 2nd.