Hello, my partner and I are looking to purchase rentals. She is a vet, and we already know that we cannot user VA loans for NOO. Can the lenders out there tell us any other loans we can use for financing, such as FHA, etc.?
Thanks.
For non-owner occupied properties the only loan programs I know of are conventional (non-FHA, non-VA, non-government). FHA & VA only do primary residences.
There’s plenty of loan options out there but all depend on your credit, employment, income, and assets.
A few options for rentals:
100% financing
hard to prove income or assests
no income or no assets
interest only payments for better cash flow
When are you looking to make your next purchase?
Hm… I thought FHA did NOO also. Anyhoo, thanks .
FHA will do loans for NOO properties, but they have to be HUD repos.
Ben,
I’m trying to finish school first (12/06) before I delve into investing. I get antsy from time to time because I come across what appears to be a good deal. I spoke with a relative who is a vet, and thought we could user her VA status for the loan. Just the brain juices simmering.