Posted by Mark (SDCA) on March 15, 1999 at 16:08:36:
The 125% loans are only on owner occupied properties?? Surely, they must be…
MORTGAGING PAID FOR PROPERTIES - Posted by LARRY
Posted by LARRY on March 09, 1999 at 08:55:58:
I have about 150g in equity in my house. My plan- buy properties all cash at big discounts (25-30% at least) , then get a mtg for 80% of value, for a deferred no money down deal… How are banks about this kind of mtg? Since the property is owned free and clear, is 80% of value fairly easy, or are they still looking for some cash? Any input here is appreciated.
Re: MORTGAGING PAID FOR PROPERTIES - Posted by Darrin (GA)
Posted by Darrin (GA) on March 09, 1999 at 17:55:46:
I think most banks will want you to own these properties for at least 12 months before they will let you do a cash out refi. Also, it may be tough to get them to go beyond 75% in some cases. Try your local mortgage company. Call me if you are in the Atlanta area.
Darrin
Re: MORTGAGING PAID FOR PROPERTIES - Posted by Kareem Cruz
Posted by Kareem Cruz on December 28, 1999 at 16:12:43:
Contact Us at: Ourinitiative@Bellsouth.com
Re: MORTGAGING PAID FOR PROPERTIES - Posted by BAK
Posted by BAK on March 10, 1999 at 08:13:43:
I have found the same regarding lending institutions wanting you to wait a year. In the NYC area you can refinance after 6 months with a couple of lenders but only up to about $20,000. Several of those looking for a year have programs that allow up to 125% LTV loans. I also found one that had a 135%. Good luck