Posted by summer swanson on August 26, 2003 at 17:12:46:
i am looking for decent land in the north western parts of Montana.
Help with Financing ASAP!!! - Posted by florence
Posted by florence on July 31, 2003 at 03:13:43:
Hello there!
I’ve posted few topics on this forum, and I appreciated all the advices given and all the help…
I’m in really need of financing right now to purchase a home as a primary residence… Currently staying with family, with them paying rent… our lease ends in Sept.1st and in really need of financing… We found a property that we’re interested in purchasing… here are the informations, it’s listed by an agent…
Selling Price…$78,900
Down Payment…3% ($2367)
Balance…($76,533
My Intensions as to the Offer I want to make…
Purchase Price…$78,000
Down Payment…5% ($3900)
Balance…$74,100
and I NEED A 2ND MORTGAGE OR A LOAN FOR THE REMAINING BALANCE OF $74,100 PAYABLE MONTHLY WITH INTEREST RATES OF 6.15% FOR 30 YEARS WITH BALLOON AFTER 15 YEARS OR WHICHEVER IS AGREED ON… IT DOESN’T HAVE TO BE MY TERMS, I’M A VERY MOTIVATED INVESTOR WHO IS TRYING TO PURCHASE HER FIRST PROPERTY… (primary resident as a start, lease ends in 1 month)
PLEASE LET ME KNOW WHAT I CAN DO TO MAKE THIS WORK… I NEED SOMEBODY WHO’S WILLING TO ASSIST IN THE FINANCING FOR MY FIRST PROPERTY(as a primary resident)… LOOKING FORWARD TO HEAR FROM ANYONE…
I ALREADY GOT THE DOWN PAYMENT MONEY OF 5% FROM MONEY BORROWED FROM A FAMILY MEMBER IN THE FORM OF A NOTE… I WANT TO STRUCTURE A NO MONEY DOWN DEAL, THIS IS MY FIRST PROPERTY TOO, AND I WANT TO START THIS GREAT, INVESTING IN OUR LITTLE TOWN… JUST BEGINNING THOUGH… PLEASE HELP ME, IF YOU ARE WILLING TO HELP ME, PLEASE RESPOND AS SOON AS POSSIBLE…
Sincerely,
Florence Tauese
912-369-6242
fax: 772-619-2429
fololegi10@yahoo.com
Re: Help with Financing ASAP!!! - Posted by James (FL)
Posted by James (FL) on July 31, 2003 at 15:04:03:
What state are you in? How is yoru credit? it does not have to be great to get 95%. The NOTE your family member now has… do they plan on recording it? Will they say the money was a GIFT and not a loan? If so, you should eb able to get a loan.
James Prince
Re: Help with Financing ASAP!!! - Posted by Jay Crossman,P.I.
Posted by Jay Crossman,P.I. on July 31, 2003 at 14:59:08:
Florence, You indicate that you have approx. 5% down on a $78,000 property. Many VA Repos are zero $ down and FHA (HUD) repos are 1% to 3% down. You’ll need a real estate agent to submit your bids and many of these properties need work, however the $ you save on the downpayment will help you fix up and move in. Go online to the HUD website. There are links to other govenment repos there. Good Luck, J.C.