100% financing - Posted by bob

Posted by Sean on December 22, 1999 at 14:03:25:

Perhaps according to the lease-option he has the right to purchase the property for $80,000 and he needs to borrow all $80,000. Perhaps the lease-option was years ago and now the property is worth $100,000. Who can say?

If he needs to borrow 100% of the Fair Market Value of the property that isn’t too much of a problem if he has a very fine FICO score. There are places where I’m at that will loan up to 125% of the Fair Market Value for owner-occupied property on a purchase-debt consolidation combined loan. The interest rate isn’t what I’d call good, but it can be done.

100% financing - Posted by bob

Posted by bob on December 20, 1999 at 19:30:41:

I am currently in the process of refinancing a property that I have been lease optioning into my own name. I was wondering if anyone could tell me if it was at all possible to do 100% financing. Thank you.

Try Long Beach, Bank One, MILA, Western Equity - Posted by Jeffrey G. Branyan

Posted by Jeffrey G. Branyan on December 21, 1999 at 10:19:58:

Do a web search and you can find their contact #'s. Good Luck!

Re: 100% financing- It depends - Posted by Michael Morrrongiello American Note

Posted by Michael Morrrongiello American Note on December 21, 1999 at 24:06:39:

It depends on the actual FMV for the home appraised ? and what is going to be the loan amount needed to refinance.?

If the FMV is $100K when appraised and you are looking to borrow the full $100K then you might run into some difficulty.

Michael Morrongiello
Operations Manager

Re: 100% financing- It depends - Posted by Potash

Posted by Potash on December 21, 1999 at 19:46:01:

I should think that if he only wanted 80% LTV financing, he would have said he only wanted 80% financing.