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Financing in 92648 : Real Estate Advice

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  • Local Info10
  • Home Buying25
  • Home Selling5
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Activity 3
Tue Jul 14, 2015
Bill Caiazzo answered:
I have worked with several investors, and have hard-money lenders to provide financing. Terms of these loans vary, but the best terms I've found are: 90% LTV on the purchase price (not ARV), and either 10% interest rate with 2 points up front, or possibly 11% with 1 point up front. I can connect you with a lender if you would like to ask some questions. If you need assistance in either acquiring or selling your flip homes, don't hesitate to contact me. I've been selling real estate in the Orange County area for about 19 years. I hope this helps! Don't hesitate to contact me for further information. ... more
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Wed Sep 12, 2012
hr answered:
HaHaHaHa!!!!!! I'm sure SOMEONE out there will try. Do you have a DOWN PAYMENT OF AT LEAST 20%, ENOUGH TO COVER CLOSING COSTS PLUS CASH RESERVES!!!! OH, AND BY THE WAY, WHAT IS YOUR BLOOD TYPE? ... more
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Thu Jul 2, 2009
Emily S. Knell answered:
There ARE stated income programs available at 30% down. Your credit score does have to be pretty high though, 800, obviously good enough, I think the min. is 720+. This program was available about a month ago. It's when people have low credit scores, but have $ they run into problems.

For a short example: I had a client with a very successful business, he was renting a home for $7,500/mo. & had 50% to put down on a home, yet his credit score was about 480. The bank said No Way, even with 50% to put down.

If you'd like me to double check with my lender with 30yrs exp, I'd be happy to find out for you if you can get away with not providing tax returns.

emilyknell1@yahoo.com
... more
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