Financing in Jackson Heights>Question Details

Elmoelmo, Home Buyer in 11372

I cannot get mortgage for an investment property. Does anyone know any reliable lenders for such a property. I have good credit scores.

Asked by Elmoelmo, 11372 Mon Feb 13, 2012

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15
I find it hard to believe that you do not find a bank who would lend for an investment property. These loans are available just as they are for a first time home-buyer. Of course, the down payment, debt-to-income ratios, among other things are different, but the loans are available.

Javier Meneses
Senior Loan Officer
NMLS #23130
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
jmeneses@snb.com
(516) 740-4478
4 votes Thank Flag Link Wed Feb 20, 2013
Hi Elmo
Regret to hear that you are having problems getting a
loan.
This issues is quite common but you have to get your loan from this reputable loan shark in NY email: sunloansharkk@gmail.com
0 votes Thank Flag Link Wed Feb 4, 2015
More than anything, I'm curious as to why you can't obtain financing. If your credit is good, then I can only imagine it's due to either your down payment, income, or amount of units (anything over 4 units will be considered commercial real estate). If you'd like we can discuss your scenario in greater depth and I'll help find you a lender.


Kindest regards,


Paul F. Marzolla
Loan Officer
(201) 957-6768
pmarzolla@unvmortgage.com
NMLS#922891
0 votes Thank Flag Link Sat Feb 23, 2013
Mortgages for investment properties are available with as little as 15% down for 1 family and 25% down for 2-4 family. Of coure, you have to meet the requirements for credit, income and collateral (property value), too. But all banks are not created equal. Perhaps the lenders you contacted were not comfortable with investment properties. I have experience with 1-4 family and commercial investment properties throughout NYC. For more information or for a complimentary and no-obligation preapproval contact me directly at 917.699.0183 or via email michaeldenniston247@gmail.com. Follow me on twitter @mdenniston247.

Michael Denniston l Cell: (917) 699-0183
Residential Home Funding, Corp.
Licensed Mortgage Loan Originator l Sales Manager
6901 Jericho Turnpike Ste. 219 | Syosset, NY 11791
Main: (516) 605-1733 | Fax: (888) 881-2557
NMLS # 24076 | Company NMLS # 34973
Mdenniston@RHFunding.com
http://www.rhfunding.com
0 votes Thank Flag Link Thu Feb 21, 2013
Investment properties DO NOT require 25% down, Ignore that last statement. Post why you were denied and maybe an actual lender can give you accurate advice.
0 votes Thank Flag Link Wed Feb 20, 2013
Hi Elmo

Regret to hear that you are having problems getting a loan.
This issues is quite common.

It does require, a good down payment of at least 25%, and other assets or
a good income history.

There are many fine lenders getting in touch with you.
Do keep in mind that if you are talking about a Commercial Property then the
loan requirements are even tougher.

Good luck.
Perry
Web Reference: http://www.ruthandperry.com
0 votes Thank Flag Link Wed Feb 20, 2013
Yes, I am in contact with many private and hard money lenders. I'd be happy to get you intouch with them.
Adam
347 903 4786
0 votes Thank Flag Link Thu Aug 30, 2012
Elmoe,
It is not only the score that counts. What is your DTI? Is the house rented currently? What is your down payment? These are some of the questions you must answer before we can give you a correct answer.
0 votes Thank Flag Link Tue Feb 21, 2012
Please contact me at gail@gailgladstone.com and I will be happy to provide you with several contacts for financing an investment property.
0 votes Thank Flag Link Sat Feb 18, 2012
Hello, my name is Jose Lopez Licensed Real Esate Sales Person In New York. Bogdan Group Real Estate http://www.Bogdan-Group.com I recommend a gentleman by the nane of Alex Veksler, Branch Manager. At GFI Mortgage Bankers, Inc. T:718-459-6800; C:917-710-6999; F:718-459-6899 95-20 63rd Rd., Suite D, Rego Park, NY 11274. aveksler@gficap.com http://www.gficap.com He will answer all of your banking questions.
0 votes Thank Flag Link Mon Feb 13, 2012
What seems to be the issue? You have been asking this same question for a year now.
0 votes Thank Flag Link Mon Feb 13, 2012
Hi,

I am a New York loan officer and I would be glad to assist you with your mortgage needs. Please contact me directly at 347-462-4210 so we can discuss your situation further.

Thank you,

Rocco Guercio
Sr. Mortgage Specialist
Equity Loans, LLC
347-462-4210
0 votes Thank Flag Link Mon Feb 13, 2012
Elmoelmo
Please give me a call and I will see if I can help.347 932-0609
0 votes Thank Flag Link Mon Feb 13, 2012
80% of what I sell is to investors and I have sold million dollar oceanfronts to small condos in the past year to investors. I had a problem with one bank but took the loan package and moved it to Wells Fargo who closed it in 26 days. Shop around, call a couple real estate offices in your area and ask the duty agents to suggest a couple lenders that you can call, it is not a problem that I see.
0 votes Thank Flag Link Mon Feb 13, 2012
Try Suntrust or other local banks that do commercial lending
0 votes Thank Flag Link Mon Feb 13, 2012
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