Posted by john L on November 03, 2009 at 20:32:55:
could you send me the info also . im looking for a lender
willing to offer 100% financing on apt units. san
francisco bay area. thanks, john
Posted by john L on November 03, 2009 at 20:32:55:
could you send me the info also . im looking for a lender
willing to offer 100% financing on apt units. san
francisco bay area. thanks, john
Need to use Equity as a down payment. - Posted by G Darwish
Posted by G Darwish on September 24, 2009 at 22:35:59:
I have duplex property almost free and clear worth 400 K, I need to find lender who would use the equity of the property as cross-coletral as a down payment.
I am interested to purchase a medical center which priced at 2.3 millions.it has 15 years lease term, 2 - 5 yrs option, with 1.75 % rent increase.it has a 9% cap rate.
I am looking for good lender who knows what to do :
Re: Need to use Equity as a down payment. - Posted by James Harris
Posted by James Harris on September 25, 2009 at 10:42:10:
G. Sounds like you should be looking for a commercial lender. You may be able to add the income from the med center as income for yourself to help you look good.
Re: Need to use Equity as a down payment. - Posted by G. Darwish
Posted by G. Darwish on September 25, 2009 at 11:19:20:
Thanks for your reply, but it was posted in the commercial area for the pro. to respond. most definitly the the assest income is what they are looking for and the tenant’s credit and length of lease and …but also they like to look at the buyer credit and income which is difficult to some of us.
Thanks
Thanks
Re: Need to use Equity as a down payment. - Posted by James Harris
Posted by James Harris on September 25, 2009 at 11:25:33:
Then, I have a program that you maybe interested in. I will send you the guidelines to your email address.