Posted by Chris Abrams on December 20, 2002 at 13:25:51:
Noel, Will this bank do a stated, NOO at $27,500 (amount financed). I.E. do you know their minimum loan amount?
Advise ASAP!
Thanks!
Chris Abrams, President
Glory Properties
55 yrs old, no credit, wants to buy homes no doc - Posted by kenn
Posted by kenn on December 16, 2002 at 02:21:40:
hi, guys. I have a family member who is in his mid fifties and wants to buy property. the problem is when we pulled his credit he has no score because he has never bought anything on credit. does anyone know a lender who will be willing to do 90 to 95% no doc financing on investment property or refi a hard money loan at 65-80%?
are there any hard money lenders that will loan 65-75% ltv?
kenn
Re: 55 yrs old, no credit, - Posted by noel
Posted by noel on December 16, 2002 at 22:55:03:
I know of a bank with very flexible terms. To them, no credit=good credit. Right now their rates are 5.5% across the board for all qualified borrowers. Its one of the best mortgages for investors. 70% ltv for stated (no-doc)/non-owner occupied and 80% for owner occupied. Let me know if I can help.
Noel
248-623-2900 ext1007
248-842-7758 cell