Need 4 plex financing at 95% or 100% HELP!! - Posted by Towanda

import · July 25, 2005, 10:17am

Posted by Larry on July 25, 2005 at 10:54:27:

I can help you out–what state is the property in,purchase price,estimated credit scores,full doc or stated…

import · July 25, 2005, 10:17am

Posted by Towanda on July 25, 2005 at 10:17:07:

Hi all,

Can someone advise me how I can get financing on a 4 plex for 0 or 5% down. Non owner occupied.

Thanks

import · July 25, 2005, 9:35pm

Re: Need 4 plex financing at 95% or 100% HELP!! - Posted by John B. Corey Jr.

Posted by John B. Corey Jr. on July 25, 2005 at 21:35:53:

Towanda,

What you want to do will be difficult. A lender will want very good credit, they might like to see a track record for managing property, they want to know you have other assets and reserves for the unexpected expenses.

An alternative view is to get the seller to carry a second. That will make it much easier to raise funding from a conventional lender.

Or take on a partner who can put up some cash to get the deal done.

There are other ideas. The key is to appreciate the risk you want the lender to take and then figure out why it would be a good loan for the lender to make.

John Corey
Chelsea Private Equity LLC

import · July 25, 2005, 10:23am

Re: Need 4 plex financing at 95% or 100% HELP!! - Posted by Joe

Posted by Joe on July 25, 2005 at 10:23:35:

I am a mortgage broker and can help you out in getting financing that works best for you.
Please contact me to dicuss your personal situation.

Joe
Next Century Funding, LTD.
516-933-1775
info@nextcenturyfunding.com