Refinance, unseasoned, Stated income - Posted by Rodney Adams

Real Estate Investing Real Estate Financing
#1

Posted by Nick on July 19, 2001 at 15:31:40:

Rodney

I wish I had started at 20. Good job. I am not sure why you are wanting to Refi. However, it is because you have a short term interest only loan. Don’t worry.

When you get a tenant in the property you can go to the bank to set it up on conventional financing with little trouble. As long as you have a signed lease agreement. The easiest banks to work with are small community banks. And try to talk to a loan officer that does commerical loans not a residential loan officer.

Nick

#2

Refinance, unseasoned, Stated income - Posted by Rodney Adams

Posted by Rodney Adams on July 19, 2001 at 11:39:48:

Hello all. I am looking for a lender out there (or some other type of help) who can refinance a house I just bought in Memphis,Tn 2 months ago. There isn’t but two months seasoning on title. I also have to go stated income (Only 20 yrs old). My credit score is 593-600 (597 Middle). Don’t have any bad things on my credit but some inquiries. I paid $13,500 for the house and fixed it up. Now it appraised for $55,000. I need a 70-80% Loan. Please guide me to a website or contact for this situation. (Or give some advice your self.)