I have a customer who buys, sells and manages real estate for a living. he owns over 50 units which he does not qualify for conventional mortgage financing. He wants to buy a condo w/25% dn for investment, where do i get financing or how?
I have a customer who buys, sells and manages real estate for a living. he owns over 50 units which he does not qualify for conventional mortgage financing. He wants to buy a condo w/25% dn for investment, where do i get financing or how?
Rsears writes: where can I find financing for a guy who owns over 50 housing units? Saxon Mortgage Inc has no restrictions on property ownership. We will finance up to 3 NOO for any qualified borrower, 1-4, townhomes, or condos. Every state but Alabama.
For the condo investor/buyer. If you try Washington Mutual they do not hgave the normal Fannie/Freddie guidelines about property ownership.
For your 25% down condo, try World Savings and Loan. They have a N-O-O stated income program (That means no leases!!!) They will let you make 1.5% rebate.