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Answers (6)
- sunnyview
- Contributions:25139
Good question BKJH, but I don't know who you think you're talking to. Mr. Haro has 73 years of experience in the mortgage business and that's more years than he's even been alive. With power like that, I am sure he must have a magic APR.
"We can do an 85% CLTV purchase NOO however we only lend in the SF Bay Area."
Really? And you don't have a line of people around the block?
At what interest rate?
Really? And you don't have a line of people around the block?
At what interest rate?
- Gilbert Haro, "privatemoneylender"
- Contributions:13
We can do an 85% CLTV purchase NOO however we only lend in the SF Bay Area.
- George Raymondo, "The Loanranger"
- Contributions:144
My company has a Portfolio Division and I can tell you for you're going to have a difficult time finding a lender for the property. Generally when you say investor property and hard money, your looking at a minimum of 30-35% down with rates between 10-14% and being charged from 4-8 points.
Best of Luck!
Best of Luck!
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Justin is right on. Your understanding is incorrect.
Happy funding, Rudi
Happy funding, Rudi
- Justin Sheftell, "Courtesy Mortgage"
- Contributions:3428
Very unlikely to find an investor in that area or at tha price range.
Even if you found one interested, no chance they would stay interested with less than 40% down. If you have other assets, you could look to borrow against those specifically.
Even if you found one interested, no chance they would stay interested with less than 40% down. If you have other assets, you could look to borrow against those specifically.
cany someone recommend a hardmoney lender.
im looking a property that might not be able to get with a conventional loan, but has a ppreaty good upside. it would be a house i would rent. i dont have the 20% down payment but understand that some hard money lenders will wave that if you have assets for that much. this property is worth 49k.
thank you all.
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