Posted by Patrick S. Lawson on April 11, 2006 at 15:18:42:
You can do it. Rates are not pretty, if you went with an 80/20 your ‘blended’ rate would be somewhere around 10%.
Score 750+ with some past issues - Posted by CA
Posted by CA on April 11, 2006 at 13:19:20:
The question is: I had filed BK and foreclosure(due to unique familiy situation) back in 98 with discharge, have owned a primary residence for 5-6 yrs now with perfect record, hold a state job for 3+ yr.
I am intested in buying duplex/sfh/4-plex in TX and maybe other states like AZ, FL, AL, NC, CA etc.
Looking for up to 100% financing, is this doable and how much higher rate, if any, what we are looking at?
Thanks
Re: Score 750+ with some past issues - Posted by Nate-WI
Posted by Nate-WI on April 13, 2006 at 18:36:16:
Rates are so up and down. You won’t know who to go with until you start shopping around. I’d recommend going with a smaller bank who hold their loans “in house” They will be easier on the closing costs and also rates. I just closed on a rental property at 100% financing at 80%LTV and my closing costs were 1100 bucks and an interest rate of 6.25% on a one year note for a 55K unit. Shop till you drop.
Nate-WI