Jump to content
The forums have been archived and are now read only. Years of great info saved for your reading pleasure. Thank you! Visit us on Facebook: https://www.facebook.com/NakedInvestor/ ×
The Naked Investor Forums
Sign in to follow this  
Guest Mark Saenz

Financing an option???

Recommended Posts

Guest Mark Saenz

Little help. I LOed a house in Scottsdale, AZ for 150K with 2500 down (applied to purchase price). I have remodeled the house and now I want it for myself to live in (I am currently living in it). It will appraise at 180-185K, but I'm having a couple of issues finding anyone to finance the 150. What are my options. When I look at conventional methods I run into a stumbling block because I recently started my own company and can't show two years of tax returns for being self employed. I can do a non-income verification loan (NIV); however, I have to fork over 5% to do so. Do you guys have any suggestions?

 

Mark ;)

Share this post


Link to post
Share on other sites

Hi, Mark. First thing I did is put your request for financing help in our Financing Strategies Forum, as you can see. I think you'll receive some replies from a few of the money guys that visit here.

You can also try reading through some of the posts here from mortgage people who have access to all sorts of lending programs. I'm sure someone can hook you up. Andrew Ikeda and Mike Pine are two people I know personally and can attest will make every effort to get you the money if there is any way possible. There may be others on this board who can help, also.

Share this post


Link to post
Share on other sites

Mark,

 

Send me an email Michael_Pine@yahoo.com

 

If you have atleast 90 days in the property and a credit score of atleast 650 I can most likely get you the financing you need.

 

Best wishes,

 

Mike

:ph34r:

Share this post


Link to post
Share on other sites

I have access to no doc loans for 95% on a purchase (refi to 90%) if you have a FICO score of at least 620. Because you are not on title presently it would be considered a purchase. You will need a purchase contract for the property but nothing else and I can fund 95% of that amount with no employment, no income and no assets (no documentation). I only need the appraisal and your credit and can close in a few weeks. Last month I funded two loans for women in their 80's (can't discriminate against age). Both of them did cash out refi's. One was a loan for $420,000 with over $150,000 cash out. Her only source of income was SS.

Call me @ (435) 586-4794

Thanks, Jane :angry:

Share this post


Link to post
Share on other sites
Sign in to follow this  

×
×
  • Create New...