Ok, thanks guys.....quick question though... If I have a mtg broker that can, more often than not ( not always) get a buyer qualified on a 95%ltv and I don't mind taking back a second for the 5% should I always go this route if I am trying to cash out? Of course this is assuming their is enough spread to do it and still reach my target margin. If so, what rate would I generally offer the second for and for how long?
if your trying to cash out, id say its the route to go... If you want to cash flow for a couple of years and make a bigger spread on the back end, then the cfd is your alternate route,, as far as the 2nd id say maybe anywhere from 3-7 points above the first they got..
also called bond for title in Louisiana, and perhaps some other states....... same idea, however, with seller financing, the deed is transferred at closing, where with an installment sale, the deed is transferred after the contract has been satisfied
same thing.. just different terminology
exactly the same thing. This document is also sometimes called an Installment Agreement for Deed.
Ok, thanks guys.....quick question though... If I have a mtg broker that can, more often than not ( not always) get a buyer qualified on a 95%ltv and I don't mind taking back a second for the 5% should I always go this route if I am trying to cash out? Of course this is assuming their is enough spread to do it and still reach my target margin. If so, what rate would I generally offer the second for and for how long?
Thanks in advance.
Suntzu18
if your trying to cash out, id say its the route to go... If you want to cash flow for a couple of years and make a bigger spread on the back end, then the cfd is your alternate route,, as far as the 2nd id say maybe anywhere from 3-7 points above the first they got..
also called bond for title in Louisiana, and perhaps some other states....... same idea, however, with seller financing, the deed is transferred at closing, where with an installment sale, the deed is transferred after the contract has been satisfied
Thanks guys. You are always helpful. Can you give an example of a potential Land Contract deal?
Suntzu18