Rrefinancing100

Question by leufiger: How difficult is it to get financing on real estate if you do not have a job, but have a lot in liquid asset?
If I purchased a multi-unit investment property as a means of creating passive income would the lenders still need to see steady earned income in order to allow for lending? If financing is allowed than to what extent will they finance the property up to? What is the metrics they are measuring it by. i.e. I want to purchase a property of 400K but only have 225K liquid.

Best answer:

Answer by Joe Jenkins (aka JJ)
If you have $ $ $ and a good credit score you can buy whatever you want.

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Question by D N: I am looking to get financing for real estate, a private unsecured loan?
I have several real estate projects, that are home-runs (200%ROI) that I want to pursue. I am looking for approximately 700k. I would have the loans back by liens, and setup in a balloon structure with monthly payments made on a pre-determined interest rate. I can’t go through banks anymore for a small business loan. If any banking professionals, real estate investors, or principals, could assist, I would be most appreciative.

Best answer:

Answer by Ed Atun
You can get a private loan. Those are available in every city. Going rate today of apx 18%. That sounds high but they know you can’t get the money anywhere else. The loan will be secured by the property so your idea won’t work.

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Question by Jason: What method of financing is better when buying a car, Balloon Financing or traditional financing?
What is better Balloon financing or traditional financing? What are the pros and cons of each?

Best answer:

Answer by CarMan
Balloon loans provide lower payments but then you owe a huge final payment, which you have to finance again. What this does is keeps you upside down on your loan for years, increases your total finance costs, and makes it almost impossible to sell or trade your car before the end of both loans. Stay away from balloon loans if you can. Dealers sometimes push them just to get the payment a customer wants, without fully explaining the downside.

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Question by wldwon2003: How can I get financing for a mobile home that is not on a permanent foundation?
I live at home with my grandfather who is currently running into financial trouble. We live in a doublewide without a permanent foundation. He is willing to sell me the house and his 28 acres of land, but I can not find financing for it. Any ideas on a company that will finance without us putting in a permanent foudation?

Best answer:

Answer by golferwhoworks
try Northpoint lending as a source

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Question by Elwood D: Does Anyone know how to really get 100% financing for real estate?
I’ve seen so many people online selling information about obtaining 100% financing for real estate transactions but all of the ones that I’ve tried have not really worked. Does anyone know of any 100% financing strategy that really works? Any information would be greatly appreciated.

Best answer:

Answer by Shawn J
If you are a first time buyer,

Or, you can get an FHA loan 97% first, 6% second and cover all costs.

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Question by snowbunny360: I need to talk to a “personal finance advisor” But I do not know Where I can find one??
Hi, I have heard of a “Personal finance Advisor” since I need help obtaining information on different loan “Opportunities” And help chosing a lender. [ I need something like the services of a "real-estate" agent but for loan information] Where can I find one ?? [ private]
I am in california [ southeren]

Best answer:

Answer by Dolms
Better be specific with your location. There are lots of agents around the globe..

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Question by David S: Where can I get Commercial Real estate financing?
I need a hard money loan or a asset based loan. Lenders from the nyc area please. I don’t want any other type of loan(conventional loan).

Best answer:

Answer by Kiran C
Have you talked to a banker? Banks lend for Commerical property as well. Any large bank should do.

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Question by Nathan: How do you verify that a private money lender for real estate financing is a legitimate business not a scam?
When dealing with a traditional bank there’s no question that you are dealing with a legitimate business. When you turn to private capital to finance a loan how do you go about verifying that the lender in question is not a con artist and that they are a legitimate lender?

Best answer:

Answer by Mike
ask the lender to provide you AUDITED PROOF that they have the capital available, and also ask for their Dun and Bradstreet rating. Honest real lenders, even private capital holders, will be glad to prove to you they have the capital they are offering.

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Question by Stephanie W: What is the best way to go about getting real estate financing?
My fiance and I are interested in a home but the home is priced at more than what we are wanting to pay per month. I know if we can get a better interest rate then the payments won’t be as bad.. We have worked really hard on his credit lately (his ex-wife did not get their home out of his name after the divorce, late payments,etc) We refinanced the home after taking her to court and sold it a month later.. I think his credit score is in the mid 600′s maybe low 600′s.. I wonder what his interest rate will be on purchasing a new home? Does anybody have any advice?

Best answer:

Answer by AB
If the home is too high for what you feel comfortable paying per month, you need to look at lower priced homes. This is why so many people find themselves in forclosure. Do you have good credit? If so, you could potentially apply for the mortgage in your name only. If you need his income and yours combined to afford the mortgage, I suggest holding off for another year. With a score in the mid-600′s, as long as he keeps paying on time and eliminates all cc debt, it should steadily increase. Go to myfico.com to find the national average for mortgage rates.

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Question by Wednesday: What’s the difference between in house financing, and dealer financing, when buying a used car?
What are the differences between in house financing, and dealer financing, when buying a used car?

In house financing VS. dealer financing VS. buy here pay here?

Is there a difference between these?

If so, what are the differences?

Thanks in advance!

Best answer:

Answer by bah bah bah
do you want to use THEIR bank or YOUR bank?

i always use my bank to finance.

GMAC isnt mine but its one of the best.

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