Yes there are many options that you can go to purchase this property. Again you would need to start with talking with a mortgage person. There are many options for financing, give me a call and I will give you a few names of people to call and talk with.
Dawn M Roessing
You need to speak to a lender and get pre-approved for a loan. It is a free process and you will find out exactly how much you are qualified to borrow on what terms.
Licensed Real Estate Associate Broker
KIAN Realty NYC, LLC
450 7th Ave Suite 1501
New York, N.Y. 10123
Off: 212-757-8268 x 220
Licensed R. E. Salesperson
Exit Realty Front And Center
If your cash available for purchase is 90-95% of the asking price, try offering a simple cash purchase. No financing hassle and lower closing costs. Really depends on the market value.
OR ask the seller to finance the balance for a short term. With your large down payment , the seller should be able to pay off any mortgage balance, pay closing costs and walk away with some cash in pocket with limited risk. They will want a copy of your credit report, so check it out before making your offer.
Best of Luck,
Josh Barnett, Realtor
Metro First Realty
But a mortgage broker needs these details to assess whether any problems you may have had in the past might cause you not to get a loan - even a small one- today.
Best of luck :)
As long as your credit score is at least in the mid 600's it shouldn't be too difficult if as you write you'll be putting down well over 50% . Just speak with a couple of local lenders and I'm sure you'll find yourself a good offer for a mortgage. You may want to consider only taking a 15 year note if the amount your borrowing is relatively small as this will get you a better rate.
I wish you all the best.