HELP!!!
I am working on my first Purchase of a Mult-Family Property. This mortgage company said they would give me 75% LTV. They also said I need to have 6 months seasoned ****Must Reach Senior Investor status before posting URL's***'s assume that I am trying to Borrow $130,000 on a blanket mortgage for three properties. How much do I have to come up with, cash?Seasoned funds?
They want to see a bank statement, CD, stock certificates etc showing that it's your money your using to purchase the property, not borrowed money. When I bought my first house, I had to show that I had my down payment money for at least 90 days prior to closing on the house.
Good Luck,
Jeff