Are they out there at a small percentage above CD rates ? Looking for mortgage money for my daughter on a house around 100k ? I don't have the cash to do it and I don't need to tie up collateral or LOC's that I use for investment properties. Her new husband is in Veterinary school (4.5 years down, 3.5 to go) so they will probably be selling/moving in four years, but the time frame for money could be less then four years.
Thoughts ?
I know for some of you west coasters and NE'ers that doesn't sound like much for a house, but in Mississippi where they are...... 100k can buy a nice starter home.
Are they out there at a small percentage above CD rates ? Looking for mortgage money for my daughter on a house around 100k ? I don't have the cash to do it and I don't need to tie up collateral or LOC's that I use for investment properties. Her new husband is in Veterinary school (4.5 years down, 3.5 to go) so they will probably be selling/moving in four years, but the time frame for money could be less then four years.
Thoughts ?
I know for some of you west coasters and NE'ers that doesn't sound like much for a house, but in Mississippi where they are...... 100k can buy a nice starter home.
Tony, most of the private guys I know only handle big dollar commercial, but they are expensive, because they take on more risk than a lending institution is willing to. However, they also covere their ass more---several require that title be placed in their name until the loan is paid to make things easier in the the event of a default.
I'm in the real estate title business here in New Orleans and I don't practice in Mississippi, but I have a mortgage broker friend who is from Mississippi and has a lot of contacts there---I can see if he can suggest a mortgage broker there. I can tell you that if they have even mediocre credit in Louisiana it would not be a problem getting them 100% financed. Rates are always higher on a 100% product but it gets them in a house, and like I said, in my experience private money is even higher.
Are they out there at a small percentage above CD rates ? Looking for mortgage money for my daughter on a house around 100k ? I don't have the cash to do it and I don't need to tie up collateral or LOC's that I use for investment properties. Her new husband is in Veterinary school (4.5 years down, 3.5 to go) so they will probably be selling/moving in four years, but the time frame for money could be less then four years.
Thoughts ?
I know for some of you west coasters and NE'ers that doesn't sound like much for a house, but in Mississippi where they are...... 100k can buy a nice starter home.
More info is needed...are you looking for a NINA, SISA, NISA, SINA...etc...plus...what is her credit score, etc...
I borrowed some money from some guy. I can't remember his name, Shylock or something. If I can't pay him back, I have to get liposuction or something. That doesn't seem so bad to me.
More info is needed...are you looking for a NINA, SISA, NISA, SINA...etc...plus...what is her credit score, etc...
PM me if you want...
Huh....
All I need is somebody with 100k
I buy and sell/finance houses but the rate I have to charge is to high because my interest rate is an investor rate. And I get into them with a bit of equity all ready there or I create it by improving the house.
I can make this work conventional....it's just a big pita. PM on the way.
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