Is It Possible To Put Down 5% On A Non Owner Occupied Property And Get An ARM
I'm looking to buy a property that is a non-owner occupied property. This property will be flipped in a short amount of time. Oh, and by the way, its a HUD. Is it possible to put down 5% on a non owner occupied property and get an ARM? If not, what IS availble for loans at a 95% LTV.
_________________
Dale DeMott
[ Edited by ddemott on Date 03/31/2004 ]
Yes, those loans are available if you qualify. You should call your broker or lending institution and tell them what you want. They will be able to tell if you qualify.
Lori
[addsig]
I think your problem will be the HUD. 5% ARMs NOO loans are available but I've run into problems trying to get this type of financing for investor HUDs. Good luck