Market Conditions in Tampa>Question Details

Rob Sarder, Home Buyer in Detroit, MI

Hi!What is the HOA fees?Can I get 60% mortgage facility against my 40% cash payment?

Asked by Rob Sarder, Detroit, MI Sun Feb 24, 2013

This question was asked from http://www.trulia.com/property/3106376797-3548-Tobago-Ln-203…

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5
Alma Rose Kee, P.A.’s answer
Not likely, a lender isn't going to even give a mortgage on most condos in Florida.

Try a credit union if you want to borrow to buy something. With 20% down and if you have a solid job history and 1 year of good credit history with on time payments they may take a risk on you when other banks will not. You see credit unions will lend their member's money and make an informed business decision whereas a bank will immediately sell off your mortgage and with a small mortgage amount it isn't worth their time.

Also try bidding at a courthouse foreclosure auction, you must do a lot of homework "before" bidding, though.

All the best,
Alma Kee
0 votes Thank Flag Link Mon Feb 25, 2013
Contact the loan officer at TrutcoBank, they may be able to help you.
0 votes Thank Flag Link Mon Feb 25, 2013
There are likely some private solutions to accomodate you
0 votes Thank Flag Link Mon Feb 25, 2013
I agree with Mrs. Sharp, ask your current bank if they will provide you with a signature loan.
0 votes Thank Flag Link Sun Feb 24, 2013
Unlikely. Most banks will not entertain loans less than 50k
0 votes Thank Flag Link Sun Feb 24, 2013
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