MICHAEL VALDES & ASSOCIATES


Phone: 813.438.4438 Email MICHAEL

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VA REO Foreclosures for Sale in Tampa Florida

The Department of Veterans Affairs (VA) acquires properties as a result of foreclosures on VA guaranteed loans and sells them as VA REO Foreclosures. Not only is it the perfect time to buy a home, but it’s also an excellent time to purchase an investment property. If you already own and are not interested in moving – or you can’t because of the 3-year occupancy requirement to keep your home buyer tax credit – but still want to take advantage of the market, investing can be a great way to do so.

In the current market, lenders often require investor buyers to have six months reserves of mortgage payments and a 25% down payment. This stipulation keeps many would-be investors out of the market. Here are some little known tips to help investors purchase, regardless of the tighter lending environment:

  1. Any investor, not just veterans, can purchase a Veterans Affairs(VA) foreclosure with VA’s Vendee Financing for 5% down.
  2. Investors purchasing a VA foreclosure with Vendee Financing can use 75% of anticipated rent to offset the monthly payment if the investor has experience managing rental properties.

                          

Use a Tampa Realtor today to buy or sell a home, but make sure they are NAR e-Pro Certified

 

Be sure to visit our other Tampa real estate site www.FlaPropertyFinder.com