Mooresville, NC (PressExposure) August 05, 2009 -- This week on Get Real, The Real Estate Investing Show for the Rest of Us, Brian Berman from Mortgage 1st, shares mortgage solutions for real estate investors and for potential buyers of investorâs homes. In the current market much of the bottleneck in flipping investment homes can be finding buyers that can find financing.
Brian explained a few Fannie Mae mortgage programs that allow owner occupants and at times investors the ability to purchase Fannie Mae owned homes with low down payment financing. The Fannie Mae Home Path program allows for down payments as low as 3% and these funds may come from gifts, grants or loans. Brian cautioned to be aware that while these are lower down payment programs they may at times have higher interest rates.
Mr Berman provided information about other details of the Fannie Mae program that may help decrease monthly payments. Many of the Fannie Mae lender programs do not require Private Mortgage Insurance, (PMI). This can add up to $100 in additional payments per month. Fannie Mae programs often do not require this insurance.
The key for real estate investors in getting buyers financed according to Brian is having a mortgage professional that can work with them on a regular basis and understand their needs. The best chance of getting financing comes from identifying the correct program.
Brian also shared his take on the near term future of mortgage financing. In the last few months the real estate market has picked up with many areas seeing significant increases in sales numbers along with appreciation in sales prices. With this increase there is more money available in the mortgage market allowing some loosening of underwriting guidelines.
For more information about real estate investing topics including mortgages, financing for real estate investors and other education and news to help the new to advanced investor visit http://www.getrealrei.com
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