Posted by Jimmy on November 07, 2002 at 17:35:32:
who was the lender?
Posted by Jimmy on November 07, 2002 at 17:35:32:
who was the lender?
100% Financing - Posted by Tim M
Posted by Tim M on November 07, 2002 at 08:06:38:
I am trying to obtain 100% financing on a 4 family in NY. The property is selling for approx 400K. I came across one lender who had an investor who was willing to give me 9.25 on the first 80 % and 14 % on the next 20 % of the sale price. This is a little tight on cash flow. Any Suggestions?
Re: 100% Financing - Posted by GMann
Posted by GMann on November 09, 2002 at 19:35:46:
There is only one program in the US that offers 100% financing on 4-Unit investment and the rates are high.
100% financing + investment property + 4 unit ALWAYS equals high rates. It is a wonder that a lender would stick their neck out that far for properties that historically have a very high delinquency rate.
If you are buying the property at a discount to the market, take it on the chin and refinance in 1-2 years. Even if it cash flows you still get the depreciation for 0 down.