Is it possible for someone to get 100% financing for an investment on something that is being sold for 60% of appraised value or would you still need to bring money to the table?

100% financing with the seller contributing up to 3% of the sale price for closing costs from a broker. In purchases with brokers the purchase price is 100% of the value for that property and that loan regardless of the appraised value. You can refi with documentation of improvements and at full appraised value (appraised value/loan amount in 6-12 months< 79%= no pmi.) Another path is from a local bank appraised as completed and they might give you rehab money too. Depends on your situation.

Bubba, are you asking about purchasing an investment property?

For example if the purchase price was $60,000 and the property appraised for $100,000 would there be a way you could not bring money to the table since the house is appraised for so much more?

If so the lenders use the purchase price on a purchase loan. They do not use the appraised value. The only time the do is if you are doing home construction or home rehabilitation loans.

Regardless, you will need a down payment for a minimum of 5% or most commonly 10%.

Bourbonduke, I have not heard of a lender doing 100% investment financing for quite some time. Are you a Broker or a Banker? How long have you been in the business so far?

If you do a refinance there is no seasoning on Conforming Loans. You could use full appraised value and refinance. But, some lenders impose a policy on investment properties and require you to use the acquisition cost plus documented improvements as Bourbonduke says. This is not true in all cases.. I know several who will use appraised value and do rate and term. Then a few select lenders will allow cash out. Then even taking that a step further they will do cash out with stated income.(I only know of 1 right now though)

Look in your local paper for somebody offering short term financing or "Hard Money"
You may be able to get the 60K plus some rehab funds. The loan will be ugly, high interest rate and fee's but it's out there.

I can help with 100% financing for investment properties, using the after repair value, even if the repairs are minimal, such as new carpet, etc. Need a 700 fico score, and $20k liquid for every $100k you want to borrow.

Is that Private Lending cgoulart?

Yeah you know Hard Money could do it. She is right. Then you could refinance into a better loan as I described using the appraised value.