Home Buying in Houston>Question Details

okg34, Both Buyer and Seller in Austin, TX

Besides hard money, what kind of lending options are there for a double close?

Asked by okg34, Austin, TX Thu May 17, 2012

The traditional loans I had lined up for a house all require the previous owner to have held title for 30-60 days, so i am looking for lending on a double close where the previous owner would have held title for that day...

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Private money will be your best and least expensive option assuming the house would qualify under their guidelines. If not you may need to pitch in 25% or more of your own cash to make it happen. Even conventionally financed buyers will likely need at least 60 to 90 days seasoning if they don't want to get hit for 2 appraisals.
0 votes Thank Flag Link Thu May 17, 2012
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