Rehab Lender in Michigan - Posted by LB

Posted by ssg on July 11, 2007 at 21:36:02:

how do I contact Bill Lowe

Rehab Lender in Michigan - Posted by LB

Posted by LB on July 10, 2007 at 20:55:33:

I’m looking for a rehab lender finance the purchase of a property. Here’s the details:

SFR - 4 bed/2 1/2 bath
2658 sq ft; 1.8 acre lot
Pontiac, MI 48340
Property sold in 2001 for $180K
Has been on the market for about a year, starting at $199K after foreclosure. Was listed by previous owners at $240K.
Purchase price is $100K. The property needs about $20K in repairs & upgrades and I’m guessing it will appraise for $170K repaired (that is VERY conservative) based on comps.

I have low scores so I’m really looking for a lender who doesn’t care about scores. I can bring funds to the table if necessary.

Any help would be greatly appreciated! Feel free to email me with details of any programs you are aware of.

Re: Rehab Lender in Michigan - Posted by Ben Carmona

Posted by Ben Carmona on July 11, 2007 at 13:25:41:

The lender that was recommended in the last reply now requires a down payment.

FICO Score/Down Payment %:

575-599 â?? 10%

601-649 - 5%

650+ - 2%

Ben Carmona

Re: Rehab Lender in Michigan - Posted by matthew

Posted by matthew on July 11, 2007 at 12:16:18:

We make short term loans to investors who purchase and rehab existing single family homes for sale or lease in 27 states.

We loan up to 100% of cost plus repairs, not to exceed 65% of the After Repaired Value.

Loans from $32,500 - $250,000. Minimum FICO only 575. Metro areas only. NOO only. Rate 13.88% plus 4 points. Minimum purchase $30,000.

For full program details, including FAQâ??s, online pre-approval and application, please visit www.pleaseclose.com/welowe or give me a call.

William E. Lowe

Partner

InvestWell

972-889-7323 X140 (o)

214-530-8230 (f)

welowe@umth.com

214-533-8272 ©

Re: Rehab Lender in Michigan - Posted by ssg

Posted by ssg on July 11, 2007 at 12:51:55:

is Tennessee one of your areas

Re: Rehab Lender in Michigan - Posted by Matthew

Posted by Matthew on July 11, 2007 at 13:05:25:

contact bill lowe- he handle your deal. just someone i’ve come across