Financing in Atlantic City : Advice

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Chastity Ort…, Renter in Atlantic City, NJ
Chastity Ortiz answered:
I have a couple of great deals i would like to finance. Are there any stated income/no doc loan programs?
I am looking for a 2 besroom apartment or house for rent for maximum rent of $1200 a month in Atlantic City or Absecon area. I need a place that accepts TRA.
0 votes Share Flag Thu Jun 20, 2013 Financing in 08401
Annette Levi…, Real Estate Pro in New York, NY
Annette Levinson answered:
How much mortgage can we get? I would like to try to get a FHA loan and put 5% down OR IDEALLY attempt to get a traditional loan with 10% down.
Are you buying your future in laws property? Are you buying residential or commercial?
Your fiance's income cannot be use for a mortgage until their FICO is 640.
You need to speak to ... more
0 votes Share Flag Tue May 15, 2012 Financing in Atlantic City
Jerry Barker, Real Estate Pro in Atlantic City, NJ
Jerry Barker answered:
can I refinance the home mortgage and still keep the equity loan with the original bank?
Only if the bank that holds the home equity loan is willing to subordinate, and if the new mortgage company will allow it. Now if you can do a second home equity loan instead and use it ... more
0 votes Share Flag Sat Aug 28, 2010 Financing in Atlantic City
Alan May, Real Estate Pro in 60201
Alan May answered:
What is a typical sales commission on a $20,000,000 purchase? $50,000,000?
Yes, typically the sales commission is negotiated when you get into big numbers like that... it's often in a stair-stepped fashion.

One percentage for the first mil.
a lower percent ... more
0 votes Share Flag Tue Oct 7, 2008 Financing in Atlantic City
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