Non-Owner Occupied Loans - Posted by ed

Posted by Dave T on November 26, 1999 at 15:46:12:

  1. Try Crestar Bank. A couple years ago, their mortgage department was willing to give me a 90% NOO, 30-year fixed rate loan, no points. Of course the interest rate was about one-half point higher than the prevailing rate at the time.

  2. Try Countrywide Home Loan. They will make 90% NOO 30-year fixed loans to investors (only 80% on condos). Their current rate is about 8.625% plus one point.

  3. If you are living and investing in Northern Virginia, try Rep Burks at Haywood and Associates, (301) 907-3348. They are a mortgage broker with access to several fixed rate and adjustable rate programs for investors. Rep convinced a lender to give me three COFI loans a few years ago, when the lender was reluctant to commit.

I am sure there are many more, but these are the funding sources I have used.

Non-Owner Occupied Loans - Posted by ed

Posted by ed on November 26, 1999 at 11:57:03:

Looking for some lenders that loan in the state of Virginia to Non Owner Occupied with as little as possible down. Looking to use leverage in investing and want to keep as much cash as possible for the unexpected mishaps that occurr in this business.
If anyone can answer this, I know the people on this board can.
Good Luck