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Best lender for creative financing

Hi there-

Anyone know a good solid company that does reliable, creative financing for home purchases?
  • January 21 - Windsor Park
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Answers (5)

Profile picture for spenceman
Credit is great.  Over 750.  It's the DTI ratio that seems to be the hiccup.  And it's all based on the 2012 tax return.  (Which was an anomaly.)  Income for 2013 (which hasn't been filed yet) is solid.  But about half of my income is in commissions and they average it out over two years, etc.  (I'm a W2 again after being an independent contractor last year.  That seems to be the killer.)  Anyway, I own a home here in Los Angeles, and I have a mortgage on that.  They're saying DTI ratio is way to high to approve a conventional loan, etc.
  • January 21
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Profile picture for spenceman
Thanks, guys.  It would be for an investment property.  Priced at around 300.  Rental income is probably gonna be at around $1300 a month.  I can put about 100 down.
  • January 21
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I'm also a mortgage broker.  It really all depends on the situation and what you are up against. Besides being creative it makes sense to make sure you are on a path to rebuilding your credit.  There are many simple steps you can take that can have a dramatic impact on your scores.  It all depends on what your specific situation is and acting on what needs to be done.  It may just require some creative thinking at this point or it may require some items on your credit need to be addressed or improved upon or a combination of both.  

As Justin mentioned.. if you can provide us some more details we can possibly give you some solutions.

Hope this helps.
  • January 21
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It depends on what you specifically need and if the house will be for your primary residence or an investment property. Give us a little more info and we can provide some guidance.
  • January 21
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We are all creative. Lay out your scenario and you'll get some suggestions. 
  • January 21
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