Financing in Groves>Question Details

Jean Loncon, Other/Just Looking in Hemphill, TX

Where & who do I talk to? I found a foreclosure in Groves for $40,000. but can't find a loan because mortgages start at $75.000

Asked by Jean Loncon, Hemphill, TX Thu Aug 23, 2012

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Try a local finance company, personal loan type secured by the real estate, the interest rate will be higher but they are not required to follow the same rules as traditional mortgage lenders, good luck,

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
0 votes Thank Flag Link Thu Aug 23, 2012
Jean - try applying for a LOC - Line of Credit. These are usually easier to apply for then a mortgage. If this will be an investment property than have an investment plan with projected numbers at the ready when you apply. More info you have available the more professional you appear.
0 votes Thank Flag Link Thu Aug 23, 2012
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