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Mortgage/Home loan help?
I am trying to invest in real estate. I have found a property and even had a lawyer look at the investment, which she found to be a good find. The property is 42,000 and I am sure I can get it for 37,000. COMPS in the area have sold between 100,000-145,000 in the past 18 months.
My credit scores are all between 630 and 660. I do not have a high verifiable income, although I can verify some. I can afford payments of around 500-600 (PITI). I would also like to borrow for the fix-up. I have 5,000 down payment and would like 55,000. I am willing to pay higher interest rates, if I can get a no or low document verification loan for 55,000.
ANY MORTGAGE BROKERS OR LENDERS OUT THERE THAT WANT TO HELP?
4 Answers
- 1 decade agoFavorite Answer
Where do you live? I can do loans in 18 states, and will be able to get what you are after. The type of loan will vary depending on what an appraisal says. You may need to get a construction loan, instead of a conventional mortgage. This is a shorter term loan that allows you the cash to fix it up and then pay it off with a refinance when you are done. Reply through answers or call Ron @ 619-379-2063
Source(s): Mortgage broker and loan officer in San Diego - 1 decade ago
I know of some investors who handle deals like this. They do ALL states. Email me or fill out the free evaluation form at:
www.totaldebtsolutionsllc.com
