Financing in Farmerville>Question Details

Roxy, Home Buyer in Farmerville, LA

Are there any guidelines for conventional loans for property with log homes?

Asked by Roxy, Farmerville, LA Sun Jul 1, 2012

We have excellent credit (804) and want rate of 3%. Any problems for property comparibles for log homes to get loan.

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Answers

2
Is it an investment property? If it is we might be able to help. We do business loans for our clients that are currently in business or wanting to get started in business. Real Estate investors are in business therefore they are able to obtain a business loan. Depending on your goals one program we offer may benefit you. We offer a no document business loan, no collateral on the property as it is a business loan and you are able to finance 100% or more. Many of our investors finance the repair/upgrade costs into the loan. The loan is based completely on your credit. You must have a 620 or above to apply. Some of the factors we consider is the length of your credit history, how much available credit, how many recent accounts have been opened etc. We need to prove your ability to repay the loan based on your personal credit. You are welcome to contact me anytime with questions.

Dominique Wilder
Universal Acceptance
559-375-2512
0 votes Thank Flag Link Sat Jul 28, 2012
The best person to ask is a loan officer, you should meet with a local and trusted loan officer who can easily answer your questions and prequailify you.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Sun Jul 1, 2012
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