pre-approval vs. asking price - Posted by north carolina

import · September 13, 2003, 10:45pm

Posted by ED, this is for you on September 22, 2003 at 01:23:33:

1)Is it true you can roll a mortgage in to a debenture, if so How?
2)Why would it not a wise decision?

import · September 13, 2003, 10:45pm

Posted by north carolina on September 13, 2003 at 22:45:36:

I am pre-approved for 150000 but the asking price for the residental property is 80000. The home needs some work but the tax value is 219000. I am a first time buyer and I want to get the maximum loan value to work on my home, how do I go about doing that

import · September 16, 2003, 10:52pm

Re: pre-approval vs. asking price - Posted by James C (NC)

Posted by James C (NC) on September 16, 2003 at 22:52:56:

Hi -
I am located in North Carolina Also
Your tax Value looks real good, but the deciding factor is what type of loan are you pre-approved for
most conventinal loans do not allow you to pull money out for repairs…
The best way to go would be hard money source or rehab loan…
get back with me if you have any questions
I might be able to help

import · September 18, 2003, 7:47pm

Re: pre-approval vs. asking price - Posted by NC Belvin

Posted by NC Belvin on September 18, 2003 at 19:47:15:

So, what type of loan would be the best loan for this situation, a primary mortgage accompanied by a second mortgage aka an equity line spread over thirty years or what?