Posted by James (Fl) on July 28, 2003 at 11:44:49:
James,
Nice name. What state are the properties in? What you are looking for is a blanket mortgage? Why do you want them all in one mortgage? Are you going to hold the properties until they are paid off? If not, you will not be able to sell them seperately in the future. Just wanted to make sure you knew that. Depending on your credit score, a 6% interest only loan may be doable… but I don’t know at 100% financing. Maybe 95%. Do you have any money to put down?
All this is going to affect the loan you get.
Please reply back directly to my email address, and I may be able to help you out./
I have a seller who is willing to sell me: a two bedroom house, a duplex, a fourplex & an efficiency apartment for under $200k. My question is where do i look for a loan that will lump all of these together as one loan. I need a 100% or a first and second that covers the selling price. Also I would like the payments to be about $1,000 a month, at least for the first year and then I would refinance and pay off ballance. Even willing to pay full amount after first year, making the $12,000. an all interest payment.
Thanks in advance for any help.
James