Foreclosure in 33431>Question Details

Mark Corkum, Home Buyer in Boca Raton, FL

I have a lot of equity (Own 4 condos) I have great Credit Score But my last 2 year Income Statement is not great - Can I get ~ $ 160,000 loan?

Asked by Mark Corkum, Boca Raton, FL Sat Dec 15, 2012

Help the community by answering this question:

Answers

12
Dear Mark,

Talk to a mortgage broker...a good option for you is to find somebody to do asset based lending.
Sincerely yours,
Jen Sommers
Jennifer Sommers, Nestler Poletto Sotheby's International Realty
One South Ocean Boulevard, Suite 11 ⃓ Boca Raton, Florida 33432

O. 561.235.7777⃓ C. 786.390.9299 ⃓ F. 561.997.2614
Jen@AgentBoca.com ⃓ http://www.AgentBoca.com
Web Reference: http://www.AgentBoca.com
0 votes Thank Flag Link Sun Dec 23, 2012
The best answer is going to be from a professional in that field. Aside from the commercial banks their are mortgage brokers who have private lenders. Your "great credit score" is a major plus. Also,
you would like a loan of $160K and for what purpose and what is the percentage which you are putting down. Most loans are based on a percentage down payment and the loan for the balance...assuming you have great credit scores; assets, income, etc.

Hope that helps a bit.

Gail Hughes Galli
ghughes@fiteshavell.com
0 votes Thank Flag Link Mon Dec 17, 2012
-
Mark,

Whether you want to do cash out or purchase another property using cross collateralization, there are options.

What are your plans for the money?

STATED INCOME ALT loan programs: http://www.StatedIncomeAlt.com

11) 80% LTV- FIX n’ FLIP Invest. Prop.

12) 80% LTV- NEW- Stated Income Alt

13) 75% LTV- NEW- Foreign Nationals- Stated Income Alt

14) 75% CLTV-NEW- after Short Sale, BK or Foreclosure

15) 70% LTV- Soft and Hard Money -Stated Income Alt


17) 55% LOT/VACANT LAND LOANS (by case basis)
COMMERCIAL PROGRAMS (many programs available nationwide)


Steve McRory

Pro Option Mortgage/Florida

http://www.pro-option.com

steve@pro-option.com

Ph: 888 662 4404

Prior Service U.S. Marine Corps
========
0 votes Thank Flag Link Sun Dec 16, 2012
Hi, Mark,
Please let me know how to have a great mortgage broker get you up and running.
see All listings and get Free valuable information at
http://www.BUY-SELL-RENT-FLORIDA.com
Call Your "go=to" Boca Raton Realtor
Julie Rosenthal (51)827-6789
julier6789@gmail.com
Property Brokers International
0 votes Thank Flag Link Sat Dec 15, 2012
Mark- Anybody you talk to is going to need your projections for
near term net income from all sources ,and your debt load. Even "hard money"
sources need to protect against "over extention "
Develope your own rationale as to why lending you the money you ask for makes
sense .,and how you see your ability to repay!
Take this in hand ,then start talking to lenders for pre-qualification! It is a lot
easier for lenders if they can see-up-front How realistic you are and how
much of your own thought is behind the request! Happy Hunting!




Bob Brubaker Highligh Realty Palm Beach County Fl. 561-876-6649
Web Reference: http://pbc-realcam.com
0 votes Thank Flag Link Sat Dec 15, 2012
If you're looking for a loan for a condo in Boca Raton, or a single family home in Boca--or anywhere else, please you may want to call Preston Ware, who is a reliable mortgage guy, at 561-329-0075.

Condo loans are somewhat difficult in today's market. If the condo association does not have at least a 10% reserve, and / or if the condo has more than 50% renters, you are not likely to be able to get a loan from a bank, even if your credit is stellar.

If you're planning to purchase a single family home or multi-family property for investment, then your guidelines may be different. Ask the mortgage guy for the best method of financing.

Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
JablonTeam@gmail.com
561-213-6139
http://www.JablonTeam.com
0 votes Thank Flag Link Sat Dec 15, 2012
Mark,
How are you? If you condos are paid off free/clear without a mortgage--you can still get financing. You may need a community bank or even a private lender. We are also located in Palm Beach County-Boynton Beach. Call me anytime to discuss NEIL SHERRY FLORIDA MORTGAGE CONSULTANTS 561-732-6376

Neil Florida Mortgage 561-732-6376
… My company closes private mortgage loans all over Florida.. We are a fully licensed mortgage company. We also work with local community banks and FHA AND FANNIE MAE conventional lenders/FOREIGN NATIONAL MORTGAGES. ..We are located in Palm Beach County.. Neil Sherry Florida Mortgage Consultants 561-732-6376

NEIL
*NEIL SHERRY FLORIDA MORTGAGE CONSULTANTS 561-732-6376 NEIL SHERRY "YOUR HARD MONEY/PRIVATE EQUITY LENDING EXPERT" FLORIDA MORTGAGE CONSULTANTS 561-732-6376

FLORIDA MORTGAGES FLORIDA MORTGAGES FLORIDA MORTGAGES

ATTN: REAL ESTATE INVESTORS, FELLOW MORTGAGE PROFESSIONALS, REAL ESTATE AGENTS OR ANYONE LOOKING TO REFINANCE " FREE AND CLEAR" INVESTMENT, SECOND HOMES AND/OR COMMERICAL PROPERTIES WITHOUT A MORTGAGE!!!!!!!!!

-BANKS DO NOT WANT TO LEND ON INVESTMENT PROPERTIES AND/OR COMMERCIAL PROPERTIES!!!!!!

-CASHOUT ON YOUR INVESTMENT/SECOND HOME /COMMERCIAL PROPERTIES FOR WHATEVER REASON!!!

--WE HAVE ACCESS TO HARD MONEY/PRIVATE EQUITY LENDERS LOOKING TO FUND MORTGAGES ALL OVER THE STATE OF FLORIDA!!!!

--NO INCOME VERIFICATION!!!!!!

-ALL CREDIT SCORES WILL BE CONSIDERED!!!!!!!!!!

--CALL FOR A FREE MORTGAGE CONSULTATION!!!!!

---WE HANDLE PURCHASE TRANSACTIONS TOO!!!

---NO TITLE SEASONING-NO SOURCING OF DOWN PAYMENT FOR PURCHASE TRANSACTIONS!!!!

-BANK TURNDOWNS!!!!

--PORTFOLIO LENDING!!!

--HIGH END MORTGAGES FOR WEALTHY INDIVIDUALS!!!

. HAVE A GOOD DAY!! NEIL SHERRY FLORIDA MORTGAGE CONSULTANTS 561-732-6376


YOUR NUMBER ONE SOURCE FOR HARD MONEY /PRIVATE EQUITY MORTGAGES/FOREIGN NATIONAL BORROWERS/PORTFOLIO LENDING IN FLORIDA!!! RESIDENTIAL OR COMMERCIAL!!! PURCHASE OR REFINANCE!!!




ALTERNATIVE EMAIL-nsherry972@aol.com


NEIL SHERRY FLORIDA MORTGAGE CONSULTANTS 561-732-6376


NEIL SHERRY -PRESIDENT
Florida Mortgage Consultants, LLC-NLMS 393969
1-561-732-6376
1-561-596-5605 cell
1-561-423-8089 fax
neil@flmtgcon.com
NLMS #328117


NEIL SHERRY FLORIDA MORTGAGE CONSULTANTS 561-732-6376


http://WWW.FLORIDAMORTGAGECONSULTANTS.ORG
0 votes Thank Flag Link Sat Dec 15, 2012
My answer to you is to call Choice Mortgage Bank in Boca and ask to speak to Michael Kodsi. My clients and I think of him as a miracle worker! Here's the number:561- 362-8441. And here's the website: http://www.choicemortgagebank.com

Good luck to you, Mark!

JOAN LORBERBAUM MOORE
Broker Associate, GRI
Lang Realty
9858 Clint Moore Road
Boca Raton, FL 33496
www-boca-delray-boynton.com
JoanMooreRealtor@gmail.com
0 votes Thank Flag Link Sat Dec 15, 2012
Dear Mark,

You should go to your bank or talk to a mortgage broker and get pre-approved as they are the best to prequalify you for a loan. Good luck!

Best regards,

Nitza Ramos
Realtor & Lic. Community Association Manager
East Coast Realty Group LLC
Direct: 954-856-3156
Fax: 954-934-9530
Website: http://www.nrcv.com
**Blog: ask4realtor.blogspot.com
0 votes Thank Flag Link Sat Dec 15, 2012
Hi Mark ,

No realtor can answer that .
It's best to go to a bank of your choice and get pre-approved .
They will check all your papers and tell you how much they will approve you for . It costs nothing but a little of your time to have it done . Good Luck !
0 votes Thank Flag Link Sat Dec 15, 2012
Talk with mortgage broker --- no one can help you without more detail than what you posted.

If you are employed, you will be asked to produce proof of source of income (pay stubs), most recent financial statements showing your assets, and last two years income tax returns. You will also be asked about your outstanding bills to determine your ability to pay. Based on that and your credit score, your lender can tell you how much you can borrow.

Good luck
0 votes Thank Flag Link Sat Dec 15, 2012
Call Craig Foster (561) 262-1894. I use him for all my transactions. I highly recommend him.
0 votes Thank Flag Link Sat Dec 15, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer