Posted by Wayne-NC on October 20, 2002 at 16:41:35:
Who are these lenders?
Down Payment Wanted! - Posted by lewis, ca
Posted by lewis, ca on October 17, 2002 at 10:20:46:
own several multi residential properties w/ equity
cash for down payment on next deal needed
should i establish equity line on one of properties
(ie bank of america) or do u have a better solution?
Thanks 
Re: Down Payment Wanted! - Posted by Ken Foley
Posted by Ken Foley on October 22, 2002 at 24:16:23:
Most Banks such as B Of A Will make equity loans as long as you have a good Credit rating. They don’t care what you do with the money. The Lender making the loan on your upleg may ask if part of the money for the down payment is borrowed… you need to check yes and see if they have a problem with it. Be honest! You Can also borrow on any vehicles that are paid off or that you want to refinance cash out. Don’t forget seller carrybacks and private lenders in most newspapers.
Re: Down Payment Wanted! - Posted by Brian
Posted by Brian on October 18, 2002 at 16:23:30:
You don’t need any money for down payment. You can get 100% financing either conventional 80/20 on a NOO, or conventional 80 with seller carryback for the 20 on a NOO. As long as the transaction pencils out either way works great, OPM.
Brian
Re: Down Payment Wanted! - Posted by Clair-MO
Posted by Clair-MO on October 18, 2002 at 11:26:37:
Lewis, There are other ways to do a down payment and closing costs. I have given several comments on how to do it. Look them up in the archives and today’s posts.
Re: Down Payment Wanted! - Posted by Wayne-NC
Posted by Wayne-NC on October 19, 2002 at 10:28:01:
Don’t these lenders have a CLTV clause of say 95%?
Re: No Down Payment 100% CLTV, N/O/O - Posted by Brian
Posted by Brian on October 19, 2002 at 10:48:07:
CLTV is 100%