need help structuring deal - Posted by drk

import · August 22, 2006, 4:28pm

Posted by rws on August 24, 2006 at 16:56:22:

Try writing in a rebate for “deferred maint” into the contract. You get 100% financing and the rebate out of escrow.

import · August 22, 2006, 4:28pm

Posted by drk on August 22, 2006 at 16:28:44:

I can buy a property for 85% of the appraised value. I have a lender that will loan 100% but they want the signed purchase contract and won’t let me take money out. How can I structure this deal.

import · August 22, 2006, 7:26pm

Re: need help structuring deal - Posted by Patrick S. Lawson

Posted by Patrick S. Lawson on August 22, 2006 at 19:26:50:

Your stuck waiting. Purchase for 100% and then do a no seasoning HELOC…If this is an investment you are going to be limited to 90% on the HELOC. If you want 100% of the appraised value be prepared to wait for 6 months.

There are lenders that say they will do investors 100% no seasoning and I’ve done it many times with no cash out (rate term), but everytime the investor wants cash out it’s a big headache.