Home Buying in 90814>Question Details

Hester04, Home Buyer in 90814

I can't seem to find a FHA lender in Fl that will do a bridge loan for the 8000 credit. Anyone know of any?

Asked by Hester04, 90814 Mon Jan 25, 2010

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I also checked my source of FHA lenders and the lenders just decided they were not comfortable doing it. Even if FHA says its okay, the lenders make the ultimate decision if it is something they want to do. In this case they had no way to track how they would get the money once the Buyer got the credit. It was too risky for them and not simple or they would have done it I am sorry. There are still a few cities like Anaheim that are doing down payment assistance if that will help. In Anaheim I know there is a waiting list, but it could be worthwhile investigating this avenue.
Barbara Robbins-Olexa, Broker
L B Brokerage
DRE Lic#797560
0 votes Thank Flag Link Tue Jan 26, 2010
I know here in So. Cal they were trying to get the law passed to allow it but it never paned out. Maybe a hard money loan with the understanding you will pay it back when you get your tax credit.

Good Luck, keep us posted.
Lesley Harris, REALTOR
(562) 673-0943
0 votes Thank Flag Link Tue Jan 26, 2010
Try the Bank of M&D (Mom & Dad)...

There was a lot of buzz about this last year, but it ultimately fizzled out. Will you please update this if you find a source for this?

Thanks & all the best,

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct
0 votes Thank Flag Link Tue Jan 26, 2010
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