If ANYONE has questions, thoughts or concerns pertaining to their either existing mortgage or if you happen to be a FIRST TIME Home buyer, please feel free to contact me and I will do my best to assist you with your concerns. We are a Mortgage Broker that has been serving New England & Florida for 16 years now and Pride ourselves on our Customer Service that we offer. Visit our Website or call anytime
Sir, If You are renting your present house and you want to purchase it, one of ways to achieve it is "Lease/Option", popular: Rent-to-Own. Maybe owners would be willing to finance such transaction (popular: carry a note). Google terms as such: Lease/Option, Rent to Own, Owner Carry. Check the page: www.homeloanlearningcenter.com AndrewS
Almost every community has "private investor" or hard money lenders.
Expect to pay 9 -14% and with a maximum Loan-to-Value of 65%-70% . . . which means . . . you must have a down payment.
Also, IF you use this high cost money, you should be plan to: 1) Buy a home substantially under current market 2) Plan for a way out . . . (sale or refinance)
Look at the total picture of buying now, vesus an agressive savings and credit improvment strategy. Waiting is often better, but, for instance, if you found a home 30% below market, then you risk is lower as your "way out" should be more certain and your upside potential is high.
Ask your attorney friends and accountants if they can refer you to an investor.
I am a realtor who is also on the board of directors for the local REIA here in Lakeland Florida. I have access to REO properties that are priced to sell quickly. I would like to take advantage of some of these really good deals myself. I am looking for private mortgage lenders who will lend based on the deal. Some deals I will want to wholesale to other investors and will only need 1 day cash but in the event that they are not able to close for one reason or another I need to make sure that I can still close so that I do not jeporadize my ability to obtain more deals. I will either find another investor to wholesales these deals to or hold them for 90 days, rehab them and resell them to an FHA or USDA buyer. I may want to buy and hold a small number of properties as well if I can find any lenders who are looking for a more long term investment. If you are interested in earning a great fixed rate return secured by a first mortgage on a single family property with tons of equity then conatct me at my aol address of DreamHomes4edu.
These loans usually fall into Section 32 loans. Watch out so you dont get burned. Private money is usually for anything other than Single Family. If private money is needed, ask the seller to carry a second untilyou get your credit fixed in 12 to 16 months and refi ASAP. I know I do these types of loans in my State. Typically these loans are for Commercial and raw ground or Farm and Ranch at 50% LTV or less. If any one is looking for Commercial Loans or Wants to be an Investor and make 10% to 13% on secured returns contact me. Thanks
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