Posted by Dave T on May 14, 2007 at 21:15:58:
If your credit score is high enough, there are several lenders that will do an 80% first mortgage and a 20% second mortgage so you get 100% financing.
Does “no money down” exist? - Posted by Norman
Posted by Norman on May 14, 2007 at 19:25:33:
I am looking to buy a duplex from my father for $140,000. Any ideas how I can get around the 10-20% down that traditional mortgage companies want? Owner financing? Different kind of mortgage company? I have heard of some “no money down” strategies but don’t know how this would work. Any ideas you have would be greatly appreciated.
Banks are for Winners - Posted by Jimmy
Posted by Jimmy on May 17, 2007 at 07:06:03:
Strange comment about banks. Its an attitude I see fairly often from people who see banks as the problem and not the solution. Those people are often no-to-low cash, mid-to-low credit scores, modest income people who want 100% NOO financing.
People who have saved their nickels and dimes, paid their bills, got their scores up there and stockpiled some cash —have a VERY DIFFERENT view of banks.
My banker is awesome. Every deal gets funded. I don’t have to worry about financing anymore. I know its there anytime I need it. Banks offer the cheapest money to be had. but you have to position yourself to qualify for it.
Banks are for lazy people - Posted by M. Osterman
Posted by M. Osterman on May 15, 2007 at 09:12:17:
Have your dad carryback a note for the full amount. What on earth does he need money for?