I need names of best lenders to finance NOO Investment houses under repair.
Financing Non Owner Occupied Investment Properties?
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- Financing Non Owner Occupied Investment Properties?
- Looking to buy investment property – any lender reccommednations?
- Should I payoff 1st mortgage ($60,000) then get a new mortgage for RE investment or get a cash-out refi.?
- what demographic characteristics would you think are likely to describe heavy users of the following?
- can a person take out a 2nd mortgage on their home to purchase an investment property?
- Does my property qualify for the NACA home saver program?
- If I purchase a home in all cash would I get a mortgage or home equity loan?
- Who can help me get an investment loan with a 587 credit score?
- What’s the most reasonable form of investment, real estate or stocks?
- Where is the best place to go for a real estate investment loan in FL?
- How do I force a lender to foreclose?
- How to invest in real estate with no money down?
- Who does 100% financing for investment properties?
- Should I take money out of my 401K to catch up a mortgage on an investment property?
- “Homeowner’s Do-it-Yourself Guide to Save Your Home from Foreclosure” Success Program
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ZinaRae
April 3, 2010 at 12:41 pm
A year ago I could have given you a phonebook full of companies, even individuals, but not today. NOO is hard to fund right now, and it will depend on your credit as to who may take a chance on you. Sorry…there is no “pat answer”.
mazziatplay
April 3, 2010 at 1:40 pm
First Horizon Home Loans on their One-Time close product.
marxistharpist
April 3, 2010 at 1:46 pm
The problem you are going to run into is not so much that it is NOO. The problem is it’s under repair. I have tried to do this twice in the past month as a mortgage broker and I could find investment property financing up to about 95%, but the second a bank hears it’s under construction, they don’t want to touch it. It’s too risky, because the house isn’t finished and it will not produce income. Now you might be able to pull it off, saying that the financing is to repair the buildings and you need the money to increase the value of the home.
Suzy_305
April 3, 2010 at 2:16 pm
You have not listed enough info to answer your question properly. Do you already own the home & you’re trying to refi or is this a purchase? What ltv (loan to value) are you looking for? What is your score? I have a few lenders that will give 90% financing on an investment prop. but they require atleast a 720 score & will not do a stated deal so you’ll have to do it as a full doc loan. Greenpoint & Indymac are great lenders but these are A paper banks and are SUPER picky.
You can also try a Hard equity lender. They will give you up to 65% but you’ll be paying as high as an 18% rate. They will not check your income, assets, etc. They only look at the value of the home.
Good luck!