Quote:
On 2007-10-22 21:16, briantfu wrote:
why you said it is tought and I need to put 25% down, and then suddenly you said I can put 10-12 % down and you will get me an approval ??
That is what is known as a sales pitch- "I can do for you what no one else can do".
what does it mean by "pop the note" on a property of yours ? how does it work ? please give more details thanks.
Quote:
On 2007-11-01 21:18, lassitermarketing wrote:
The easiest way to get this done is to have the seller pop the note on a property of yours that is not the subject property.
having the seller carry 10%, leaves you putting 10% into thr transaction IF you are able to get 80% financed.
The idea behind having the seller put a lien on a different property is that at this time, many small balance commerical lenders will not allow ANY seller carry back; so by you having the lien on a different property, you might be able to get financing.
I am a lender and we would never lend at 95% CLTV. You always have to have some skin in the game. That is a rule of thumb. Plus the market now would support that,
why you said it is tought and I need to put 25% down, and then suddenly you said I can put 10-12 % down and you will get me an approval ??
Call a couple mortgage brokers in your area and have them shop around for you....most are looking to do deals these days.
Quote:
On 2007-10-22 21:16, briantfu wrote:
why you said it is tought and I need to put 25% down, and then suddenly you said I can put 10-12 % down and you will get me an approval ??
That is what is known as a sales pitch- "I can do for you what no one else can do".
Chris
Depending on property and financials there is a company that will do 95%. With some properties we can even go to 97%. with fast closings.
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[ Edited by rm6860 on Date 10/26/2007 ][ Edited by rm6860 on Date 10/26/2007 ]
I spoke to CommercialDirect for a deal. They did a bait and switch and loan terms.
The easiest way to get this done is to have the seller pop the note on a property of yours that is not the subject property.
what does it mean by "pop the note" on a property of yours ? how does it work ? please give more details thanks.
Quote:
On 2007-11-01 21:18, lassitermarketing wrote:
The easiest way to get this done is to have the seller pop the note on a property of yours that is not the subject property.
having the seller carry 10%, leaves you putting 10% into thr transaction IF you are able to get 80% financed.
The idea behind having the seller put a lien on a different property is that at this time, many small balance commerical lenders will not allow ANY seller carry back; so by you having the lien on a different property, you might be able to get financing.
I am a lender and we would never lend at 95% CLTV. You always have to have some skin in the game. That is a rule of thumb. Plus the market now would support that,