Posted by jorge on July 27, 2003 at 24:22:46:
Thanks for the quick reply, I am in Albuquerque, NM.
BTW, You can always click on my email address and email me anytime. But for the sake of others maybe you can explain how to do this on here?
WOuld it require I increase the price?.. I really don’t want to do that. But I am open to suggestions… since…
I am still learning,
Jorge
80/25 ??? instead of 80/20 loan? - Posted by jorge
Posted by jorge on July 26, 2003 at 22:23:35:
will a mortgage person give a loan that is 80/25. So if they seller can carry a 25% can the mortgage person still loan 80% and have the buyer recieve the other 5% ?
Still learning,
Jorge
Re: 80/25 ??? instead of 80/20 loan? - Posted by Randy
Posted by Randy on July 27, 2003 at 12:44:20:
In a typical seller financed deal the lender is going to loan 80% of the appraised value of the property. The seller is going to carry a 2nd for 20%. In this scenario the sellers 2nd is 25% of the appraised value. You can pay as much as you like for a property, the lender is only concerned about the LTV of their loan. Email me directly if you wish, I have a source to do this kind of deal.
Re: 80/25 ??? instead of 80/20 loan? - Posted by Don Dion
Posted by Don Dion on July 26, 2003 at 23:47:49:
Yes
Drop me a line if you want to talk about details on how to do this. I will need to know what state your in also
Re: 80/25 ??? instead of 80/20 loan? - Posted by Jorge
Posted by Jorge on July 27, 2003 at 16:20:36:
I kinda answered my own question when I responded to
Don… You would have to raise the price to get 25% and the seller 80%. I call it rookyitis…so thanks… I will be in touch…
still learning,
Jorge