2007-01-03 04:52:26 · 3 answers · asked by fish2441 2 in Business & Finance ➔ Renting & Real Estate
the best "type" of mortgage
2007-01-03 06:56:50 · update #1
If that is your plan and you will serious about selling within a year. I would go with a Interest only 1/1 ARM. Which means you will only pay the interest on the loan and the adjustable rate should be lowest. 1/1 means it will have a fixed rate for 1 year and will begin flucuating after fixed period. I would only suggent this type of loan on the type of scenario.
2007-01-03 07:28:13 · answer #1 · answered by Jamie B 1 · 0⤊ 0⤋
I recommend a hard money investor who specializes in flipped houses; there is a program to finance you, not have it reflect on your credit, no payment for 6 months. email me for more info.
2007-01-03 23:11:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I would go for an optional arm; your balance will grow. You should make sure that there is no pre-payment penalty. I know many flippers who use this loan.
2007-01-03 16:32:55 · answer #3 · answered by tianaramal 4 · 0⤊ 0⤋