Posted by JPiper on December 12, 2000 at 16:47:54:
You give virtually no information on the property. But, with excellent credit and a 20% down payment I think you could get financing on your own…the lender should look to the income from the property to supplement what you show (assuming that the numbers show well and are realistic).
JPiper
Co-signer - Posted by jeremy FL
Posted by jeremy FL on December 11, 2000 at 16:19:54:
Hello all I need some assistance with my first commercial deal. Here is the main finance question.
I currently have excellent credit, 2 sfr rentals. Self-employed for 3 years, income shows a little low.
Anyway I have come across a deal (bigger than I wanted to start with but the numbers make sense). $600,000.00 no owner financing. My main question is this: I have the 20% down payment, but I don’t have the big income to back this loan. I’m thinking I almost definitley will need a co-signer.
If I get my father to co-sign will this effect him being able to finance a new home, he plans to build, when he retires in 2 years. I’d apprecaite any suggestions or advice.
Thanks in Advance,
Jeremy