Mural, Home Buyer in Town of Tonawanda, NY

I would like to purchase a small home for my daughter. I would rent it to her. where do i find finacing? what would be the rate and down payment?

Asked by Mural, Town of Tonawanda, NY Sun Feb 19, 2012

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Contact a local mortgage broker & they will help yo establish how much financing you qualify for He/she will also explain the down payment requirements for the type of mortgage you are applying for.
0 votes Thank Flag Link Tue Oct 30, 2012
thanks for your answers. i spoke with a loan person and the good news i do qualify. I will need to shop well but I think this may fly. thanks again.
0 votes Thank Flag Link Sun Feb 19, 2012
I will be happy to provide you with contacts to help with the financing; mortgage broker, mortgage banker, mortgage broker/banker.

Contact me for the information or call 914-380-6898.
0 votes Thank Flag Link Sun Feb 19, 2012
Most lenders can provide this type of financing, ask your Realtor to introduce you to the lender they trust the most, good luck,
0 votes Thank Flag Link Sun Feb 19, 2012
For a personalized answer, do visit with any licensed loan officer(s) to determine mortgage qualification; the down payment amount would depend on the type of loan; as for the rate, keep in mind that they do fluctuate daily. You can begin by checking with the bank you currently do business with, any other bank, credit unions, mortgage brokers, etc.
0 votes Thank Flag Link Sun Feb 19, 2012
Hi Mural, you should consult a couple loan officers in your area. Your rate will depend on your qualifications - your credit score, debt-to-income ratio etc. Requirements are different for non-owner occupants. Any loan officer would be happy to answer all your questions, take a look at your situation and advise you of your different options. All the best.
0 votes Thank Flag Link Sun Feb 19, 2012
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