Where can I find a loan for home purchase of around 300k if I don't qualify but can put down up to 100k?

Asked by Alex110, Hollywood, CA Fri Feb 24, 2012

I don't have a job presently and have just had offbeat jobs in the past few years with little income (we are talking under 20k) to show. However, I can put down a large down payment of up to 100k (about 30%-35%).
Something else that may help me is that I have 2 small properties (paid in full and rented) and another small house which I have sold recently with user financing. Total value of all these properties is no more than 300k.

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Sue Wylie’s answer
Sue Wylie, Agent, Rancho Palos Verdes, CA
Fri Feb 24, 2012

I have homes available without bank financing. Also there are many avenues for financing because of your cash and equity in your other properties. PLEASE do NOT put ALL your cash into a property now. Talk with me first, I will teach you how to buy using the positive credentials you have. No obligation. Sue Wylie 310-487-5758 Call or text me.
1 vote
Anthony Carr…, Agent, Sacramento, CA
Fri Feb 24, 2012
Without a job it will be difficult to get a loan from anyone including a hard money lender. I think the only option you have at this time is to pay cash or use the equity from your other homes to help pay for the new home.

Good Luck!

Anthony Carrillo
Cook Realty
Sacramento, CA
Lic# 01471219
1 vote
Caroline Har…, Agent, Northridge, CA
Tue Nov 13, 2012
Try WestCom Lending, INC. They have some creative solutions. 866-256-0769 (ask for Bridgette).
0 votes
Doug & Bud Z…, Agent, Placerville, CA
Mon Aug 6, 2012
Talk to a local "Creative Thinking" Realtor for ideas and coordination with a private money lender.
0 votes
Daniel Ville…, Agent, Los Angeles, CA
Mon Aug 6, 2012
There are several options open to you, When your ready to make your move you may reach me at 1-800-981-7638 cell, or your may go to my website danielhvillegas dot com for more. Thanks in advance.
0 votes
Robert Chome…, , San Diego, CA
Mon Feb 27, 2012
A couple of options:

1. Try to find a seller that will carry back a mortgage with a large down payment
2. Search for some private lenders in your area, they have high interest rates but it may be worth until you get a job and can refinance to a lower rate
3. Try some small local banks that portfolio their loans.
0 votes
Annette Levi…, , New York, NY
Mon Feb 27, 2012
How old are you? If you are 62 or over you can get a reverse mortgage.
0 votes
, ,
Fri Feb 24, 2012
I can offer you a Private Money Loan option for you. Let me know if I can help.

Best of Luck!
Web Reference:  http://www.AFN-loans.com
0 votes
Manny Meneses, Agent, Granada Hills, CA
Fri Feb 24, 2012
Hi Alex110,

The amount of information you have provided is very limited. There can be many other questions to answer before we can find the right option for you. To name a few of the different options; hard money loans, private funding, an investment group, and even the possibility of selling one of the other homes. Give me a call if you want to talk.
Web Reference:  http://www.mannymeneses.com
0 votes
Sara Mehrpou…, Agent, Los Angeles, CA
Fri Feb 24, 2012

Send me an email smehr818@gmail.com & I will give you the information to a mortgage guy that might be able to give you some options. Sounds like you might have to do a hard money loan with a high interest rate.

Sara Mehrpouyan
Specializing in Short Sale & Foreclosure
Rodeo Realty
Direct 818-903-2040
Dre License #01712757
Web Reference:  http://athomewithsara.com
0 votes
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