Anyone know a 90% lender? lender says no more - Posted by Lucky but confused

import · February 15, 2003, 12:01pm

Posted by GMann on February 15, 2003 at 21:02:51:

Call any of your local mortgage brokers and they will give you 90-95% options. I’m sure you can get a recomendation for someone to work with.

import · February 15, 2003, 12:01pm

Posted by Lucky but confused on February 15, 2003 at 13:01:18:

I’m actively buying single family residences. I curently have 5 sfr and two duplexs. I have been using first horizon for the last 4 loans, they now inform me that they can only do 4 loans with any one individual.

I have a full time job doing other things, that creates strong annual income, which we live off of. My credit is in the mid 700 range. I can fully document my income for lenders.

The rentals are a retirement stratagy, so we don’t currently need the extra income to live on. The rentals can now anny up the downpayments on other rentals, but 20% down makes no sence.

All of my units have good positive cash flow, after reserves for repairs,mantance and vacancies.

I have located another strong cash flow deal, but need a lender. Does anyone know of lenders that will do multiple deals with 10% down, non owner occupied rental properties? I like conventanal type loans because I don’t have time to make 100 owner carry offers.

Has anyone had this type of experence? And could anyone offer advice, on finding these types of lenders?

Thanks in advance for your time.

import · February 19, 2003, 8:19am

Do you have a relationship w/ a local bank? - Posted by Shawn J. Dostie

Posted by Shawn J. Dostie on February 19, 2003 at 09:19:02:

If so i would try to get the new loan and refi the other 4 into 1 jumbo loan. You have all the ingredients for a good risk. Good credit, strong income, and experience. Get local contacts with the people who make the decisions.

Good Luck,
Shawn(OH)

import · February 15, 2003, 11:02pm

Re: Anyone know a 90% lender? lender says no more - Posted by Reggie McDowell

Posted by Reggie McDowell on February 16, 2003 at 24:02:49:

If you email me I have several lenders who will do up to 100% N/O/O loans in 49 states.
regmcdowell@alliedhomenet.com

import · February 15, 2003, 10:27pm

Re: Anyone know a 90% lender? - Posted by Don Dion

Posted by Don Dion on February 15, 2003 at 23:27:07:

What state are you in? If your lucky and in one of my 39 states that I handel , I would look forward to working with you on your future financing needs.

import · February 15, 2003, 9:35pm

Re: Anyone know a 90% lender? lender says no more - Posted by Summer

Posted by Summer on February 15, 2003 at 22:35:57:

Would like to give you a referral.
E-mail me hotsummer64@msn.com and I will send info as I know there is no solicitation on this site.
Thanks and good luck.
Summer