Posted by sam on April 22, 1999 at 15:20:54:
Where are you in Montana? My wife and I are selling off all of our properties in MI and moving out to Montana. It would be good to know a fellow investor.
Thanks
Sam
NEED A MORTGAGE BROKER FOR MONTANA!!! - Posted by JohnBoy
Posted by JohnBoy on April 19, 1999 at 10:55:43:
I’m looking for a GOOD mortgage broker that can write loans in Montana.
I’m looking at two possibilities.
1.) A loan program available in Montana that will allow up to an 80%-90% “Non-Owner Occ.” refi allowing to take cash out.
2.) A loan program that has a CLTV program for an owner occ. by either a combination of a new 1st and 2nd or up to a 90% 1st with a 10% seller carry back for good credit.
The property consists of 2 homes on the same lot equal to the size of 3 city lots.
One home is rented as a 3 bd up and a 1 bd basement apartment and the other home is currently rented also. Another 3 bd home.
Owner needs to refinance to get the cash out to build new cabins on another property or has a possible buyer with good credit with good income, but no down payment. Buyer would be buying as an owner occ. to live in one house while renting out the other to two tenants. Both 3 bd’s currently rent for $750 and the one bed rents for $450.
Property would appraise around $260k - $270k.
Any good mortgage brokers out there interested should e-mail for more info.
Thanks,
JohnBoy