Financing in Detroit : Questions & Answers

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adeder, Both Buyer and Seller in Milwaukee, WI
adeder answered:
I WANT A HARD MONEY LENDER IN DETROIT THAT WANTS TO LEND ON SMALL DEAL CALL SAM 5618560270
Check out this website, we lend nationwide, large and small deals, investment property only.

www.privatemoneyexchange.com/dder

email me if you have any questions.

Danny Der
Pr ... more
0 votes Share Flag Wed Feb 27, 2013 Financing in Detroit
Danny Der, Both Buyer and Seller in Outside U.S.
Danny Der answered:
Looking for hard money lender/private investor for acquisition and rehab for a property in Royal Oak.
Hi Lauren,

Do you have a recent appraisal of the property? what is the date of the "last sale price"?

Do you have any Comp's (sold, active and pending) within 2 months and half a ... more
0 votes Share Flag Sun Jan 6, 2013 Financing in Detroit
Hardmoneymi, Real Estate Pro in Huntington Woods, MI
Hardmoneymi answered:
Looking for a hard money lender to help with a owner occupied home. To help pay off property taxes. Home is paid off, just delinquent taxes
We may be able to help you, we are a private hard money lender in Huntington Woods, MI. Please contact our office at (248) 547-3006, Metro Mortgage Investments LLC, 26711 Woodward Ave. ... more
0 votes Share Flag Wed Aug 7, 2013 Financing in Detroit
Eric Michael, Real Estate Pro in Livonia, MI
Eric Michael answered:
Where can I get financing under $50k in Metro Detroit?
Tefe,

I would start with talking to the real estate agent you're working with. If they can't answer that, and I don't know why they wouldn't be able to, I'd go to a credit union.
0 votes Share Flag Sat Oct 13, 2012 Financing in Detroit
Tim O'Riley, Both Buyer and Seller in Detroit, MI
Tim O'Riley answered:
Are there mortgages available for foreign investors in Detroit?
I'm not sure exactly what you're looking/asking for here, Smyri777, but I think this information might be helpful to you. http://www.prlog.org/11827139-mortgage-loans-for-non-us-citizen ... more
0 votes Share Flag Wed Aug 29, 2012 Financing in Detroit
Tim O'Riley, Both Buyer and Seller in Detroit, MI
Tim O'Riley answered:
I am from Italy and I want to invest in Detroit, MI. Being foreign national, can I get a mortgage?
I'm not sure why, if you're looking to invest in Detroit, you're looking for a mortgage if you have "60-70% to put down" but I would be glad to work with you to better understand what y ... more
0 votes Share Flag Mon Sep 3, 2012 Financing in Detroit
Tony J, Real Estate Pro in Detroit, MI
Tony J answered:
Are some lenders for Detroit,MI Need funds to rehab 3 properties in Detroit,Mi?
Tony J, Contractor, Detroit, MI
we are foreclosure repair company working for the banks in michigan. we can take a home from trashout /rehab to rent ready with an economical budget ,in ... more
0 votes Share Flag Fri Jun 8, 2012 Financing in Detroit
Carl Hawthor…, Real Estate Pro in 30114
Carl Hawthorne answered:
looking to buy in 48236 poor credit what financing programs should I look at
FHA loan, but most banks require 620 or higher.
0 votes Share Flag Wed May 30, 2012 Financing in East English Village
Haig Istambo…, Real Estate Pro in Michigan
Haig Istamboulian answered:
I am an investor and Realtor in San Francisco, I will be going to Detroit around end of May with $100k cash, looking for turn-key rentals, email me.
Hello Sergio,

I am emailing you now. We specialize in turn-key properties and have quite a few ready to go. Check your email shortly I will send over a few packages for you.

My co ... more
0 votes Share Flag Fri Jun 8, 2012 Financing in Detroit
Jamie Hastin…, Real Estate Pro in Westland, MI
Jamie Hastings answered:
I am trying to finance buying an apartment complex. Approx $23M.
I looked over your earlier question and answers for this property; do you have any money to put into the deal?
I would be willing to discuss options for funding your deal, but I need ... more
0 votes Share Flag Sat Apr 28, 2012 Financing in Detroit
Guy Gailliard, Real Estate Pro in Detroit, MI
Guy Gailliard answered:
I am from Dubai & I want to invest in Detroit, MI. Being foreign national, can I get finance? I have good credit rating.
Greetings Amit,

I would be happy to answer your question about investing in Detroit. The best buying method for this market is with cash. Houses sell fast here and you can get great ... more
0 votes Share Flag Mon May 6, 2013 Financing in Detroit
Fred Glick, Real Estate Pro in Los Angeles County, CA
Fred Glick answered:
What lending companies can I call to see how much I'm eligible for on a mortgage loan?
I recommend that you talk first to your real estate agent. They know the people that are good.

If not, I can suggest a couple of people.

Good luck!
0 votes Share Flag Wed Apr 11, 2012 Financing in 48207
Eric Michael, Real Estate Pro in Livonia, MI
Eric Michael answered:
Does anyone know of anyone hard money leanders doing deal in SE Michigan? Charles bigblocksglass.com
I'd start with Google and see what pops up. It's a tough market to get a regular loan in, let alone a hard money loan.
A friend of mine might be able to help you. Give him a ... more
0 votes Share Flag Mon Mar 5, 2012 Financing in 48234
Shanna Rogers, Real Estate Pro in Murrieta, CA
Shanna Rogers answered:
My Mother-n-law and I got an house together in the terms of her name being off in about 3 to 6 months. Now she wants her name off the house.
Hi Ericas626,

If your Mother In Law just wants her name off the house (Title/Deed), you can just do a Quit Claim Deed. However, if she wants her name off the mortgage(s), you will n ... more
0 votes Share Flag Sat Feb 11, 2012 Financing in Detroit
David Bolling, Real Estate Pro in Detroit, MI
David Bolling answered:
Buying a Home In Detroit
As long as you have a steady work history, good credit and a down payment. You should be fine.
If you need any assistance, please feel free in contracting me. I am also a fellow Tech ... more
0 votes Share Flag Mon Jan 16, 2012 Financing in 48226
Tim Moore, Real Estate Pro in Nags Head, NC
Tim Moore answered:
Would a property that im selling qualify for financing, if I bought it as a short sale to renovate and resell?
It would make no difference how you bought it, the fact you did is all that's important. The new buyers will get a mortgage on the property and it will be up to that lender if they ... more
0 votes Share Flag Thu Dec 29, 2011 Financing in Detroit
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
We need a hard money lender.We have no no credit and an opportunity to buy a fully furnished church for $60 that appraised for $180. Can you help?
Karl a hard money lender could charge 12-18% interest and the loan is only short term. It could be as little as a year you would have to refinace. A hard money lender is good for a shor ... more
0 votes Share Flag Sat Dec 7, 2013 Financing in Detroit
Merritt Noel, Real Estate Pro in Denver, CO
Merritt Noel answered:
I have MSHDA downpayment assistance. Is that only good for MSHDA houses? Or can it be used for any type of house?
Per the website It should be any type of house that qualifies for MSHDA's FHA or Rural Development first mortgage. I would check with on a the approved lender's that are fami ... more
0 votes Share Flag Tue Aug 16, 2011 Financing in Detroit
Sally Grenier, Real Estate Pro in Boulder, CO
Sally Grenier answered:
Can I finance the house together with my husband, but the title of the house will be only under my husband's name?
Why would you want to do that? I would talk to an attorney. As a woman, I would want to make sure my name was on the house, in case anything happens to the marriage.
0 votes Share Flag Thu Jun 23, 2011 Financing in Detroit
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