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)
214-533-8272 (c)
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