Posted by fritz on September 09, 2005 at 14:37:32:
If you have a 660+ score, I have a lender that can provide 100% LTV. And this is how it works
They will first qualify you for 80% LTV, and we have an equity lender that can provide the 20%
In other words, you will need to give 20% equity
Yes, it is not for everyone. I, personally, have seen one too many fall thru the cracks beacause the LTV is capped at 80% or there is a shortage of closing cost
If the cashflow is there, and you are willing to “compromise” in order to make the deal, send me an email
Trust me, many people will probably advise against the gift of equity. However, it is, in most cases, the last option for a successful closing
Question you need to ask:
How bad do you want this deal to go forward
Are you willing to look the other way, to give up
that cash cow. Can you afford not to make an offer
etc.
I can also offer an alternative. If you can convince
the seller to lower the acquisition cost to $1MM, There are ways of securing that 90% LTV.
Send me an email when you are ready to roll