Financing in Sacramento>Question Details

Adrain Edwar…,  in 95828

Are there any non-owner occupied lenders that will provide 100% financing?

Asked by Adrain Edwards, 95828 Sun Oct 14, 2007

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I have some sources that claim to provide 100% for commercial loans. I did not put it through because the points charged, rate and terms were too high to allow the project to pencil out.

Like Cliff, I have several sources that offer 90% LTV on non owner occ.
My question for the buyer-investor is "Can you handle a high negative cash flow every month?"

If the investor expects a 90 or 100% LTV property in Sacramento to cash flow positive or even break even, that investor is delusional.

I think a possible strategy for 100% financing is that the investor buyer borrow the down payment from an asset they already own (RE, 401K, ) or take a Visa or MasterCard cash advance. That way they don't have to encumber the new property 100% {which scares the heck out of any sensible lender}
0 votes Thank Flag Link Mon Oct 15, 2007
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
Contact
You can find non-owner financing for about 90% pretty easily these days. If you're interested, please feel free and contact me.
Web Reference: http://www.revfinancial.com
0 votes Thank Flag Link Mon Oct 15, 2007
Non-owner occupied 100%? Wow - if you find one let me know!

Lending guidelines have tightened a lot in the last few months. FYI earlier this year I had a client with an 800+ credit score, solid income, and 25% down who had a hard time finding a bank who would do a non-owner occupied loan. At that time, none of the banks were offering rate/program locks. That may have since changed...
Web Reference: http://www.erinattardi.com
0 votes Thank Flag Link Mon Oct 15, 2007
Erin Stumpf…, Real Estate Pro in Sacramento, CA
MVP'08
Contact
There are only a handful of lenders left that still actually do 100%. Non-owner is going to be extra tough but might not be impossible if seller is cooperative. Is it investment or a second home? If you need a referal send me a message i can give you a contact.
0 votes Thank Flag Link Sun Oct 14, 2007
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