Talk to a mortgage broker...a good option for you is to find somebody to do asset based lending.
Jennifer Sommers, Nestler Poletto Sotheby's International Realty
One South Ocean Boulevard, Suite 11 âƒ“ Boca Raton, Florida 33432
O. 561.235.7777âƒ“ C. 786.390.9299 âƒ“ F. 561.997.2614
Jen@AgentBoca.com âƒ“ http://www.AgentBoca.com
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
Whether you want to do cash out or purchase another property using cross collateralization, there are options.
What are your plans for the money?
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Please let me know how to have a great mortgage broker get you up and running.
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Julie Rosenthal (51)827-6789
Property Brokers International
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
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
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
â€¦ 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
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NEIL SHERRY FLORIDA MORTGAGE CONSULTANTS 561-732-6376
Good luck to you, Mark!
JOAN LORBERBAUM MOORE
Broker Associate, GRI
9858 Clint Moore Road
Boca Raton, FL 33496
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!
Realtor & Lic. Community Association Manager
East Coast Realty Group LLC
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 !
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.