Newbie Needs Financing Solutions
We are newbie investors in Illinois looking for financing answers.
We(married) are wondering what are the best ways past the LTV that banks use in order to get financing?
We both have Fico scores over 710 and have positive net worth. We have some savings, 401k,stocks, mutual funds and a mortgage/Heloc on our home.
Any assistance in this matter is appreciated.
We are looking to invest in residential as well as commercial properties and I am looking to do this regularly---I hope!
Greeting candlken,
Provided the rest of your financial situation is in order, you can still get 100% financing on residential property (1-4 units), and 90% on commercial.
Thanks for your response. Where will we be able to get that?
you probably would want to use any mortgage broker. Get one that will call you daily, so you know they wont sit on there thumbs. since it sounds like you will be doing quite a few deals, negotiate one percent in closing costs for both origination and YSP. you wont know what the ysp is until time for signing, but you wont have to deal with them again