Posted by Seniorito on June 13, 1999 at 24:28:24:
Did you say you were getting it for 15%? That is fantastick! There are lenders everywhere that will give “no-qualifier” loans for 50-60% without even looking at your employment. Shop around.
Purchasing Delimma - Posted by Candace Huber
Posted by Candace Huber on June 12, 1999 at 20:59:27:
Hi everyone…I have a purchasing delimma. I made an offer on a house. It is not that creative except that I am getting it for 15% of its value and it is in an area which is appreciating 5-10% each year. Anyhow, the closing date is July 7 and now I can’t get funding I was supposed to get. The problem is I am buying this home for myself…and I can’t just let it go. I would even get a convential loan if I could because I love this place that much however I am self employed for a short period of time and the banks are calling me a no go. Are there any other options for me? I read something about creating your own mortgages…does anyone know how this works or have any great advice for me. I hope I hear from you soon.
Owner/occ. 103% financing - Posted by Paul Macdonald
Posted by Paul Macdonald on June 14, 1999 at 17:07:53:
Candance,
If you’ve got good credit you can get up to 103% financing. 100% FHA deals. Find a good broker and you’ll be in fat city.
Good hunting,
Paul Macdonald
Re: Purchasing Delimma - Posted by Ed Garcia
Posted by Ed Garcia on June 13, 1999 at 11:03:04:
Candance:
I think you might have been in error when you stated you were
purchasing the house for 15% if it?s value. I think you meant 15%
below market. That is very important to this deal.
You also don?t mention where you are located.
In either event , I?ll be working in my office all of next week, if you
would like, you can call me at (909) 944-0199, and I think I can shine
some light on this for you.
Ed Garcia