Posted by Ed Garcia on January 06, 2003 at 10:55:51:
Candice,
I think I can help you. I have an office in Rancho Cucamonga California and on a bad day we can go Hard Money. On a good day we can reconstruct some of your credit in Europe and go at least Sub-prime.
If you found the right deal, you may not even need a loan and can do a deal with a seller carry-back. When you start to look for a house call me at (909) 944-0199 and we can talk about how to structure your next potential deal.
Need Creative Advise For Financing Home - Posted by candice
Posted by candice on January 06, 2003 at 08:36:56:
I have been out of the country for 14 years and will be returning to Los Angeles with my European husband. I have had no credit in the US for all these years. My husband and I are both in the arts
and problably will not show steady income for the first year. We have cash enough for a 20% down on a 500,000 house and cash for 2 years of living and have no debts. Is it possible to get a balloon loan where our payments are low for the first few years and then we can refinance when we show we have a cash flow? Is there a way to use our European credit record in the US? My father is quite elderly has excellent credit but would a bank let him cosign. I also thought about trying to find a duplex to buy so at least the bank would see a cash flow. Any other ideas? I do appreciate any advise or help I can get as I would hate to waste our cash on rent. Thanks in advance. Candice
Re: Need Creative Advise For Financing Home - Posted by Charles Clark
Posted by Charles Clark on January 06, 2003 at 15:14:15:
Hi Candice,
The NO DOC program would be available for you, without your dad, for 70% LTV. No Doc is a really no doc loan.
Charles Clark neiloans@hotmail.com
Re: Need Creative Advise For Financing Home - Posted by Charles Clark
Posted by Charles Clark on January 06, 2003 at 13:54:05:
Hi Candice,
There are “foreign National” loans, with a 75% LTV. A bank/lender would let your dad co-sign, possibly with a NO DOC loan, then it could be higher LTV.
Charles Clark neiloans@hotmail.com