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100 financing: Hard Money Loans - 100% Acquisition and Rehab Loans - 10/14/08 01:03 AM
Hard money loans are a good way to take advantage of the opportunities created by the downturn in today's housing market. I get a lot of calls from real estate investors looking for hard money loans to purchase and rehab property they can purchase below market value. Many are looking for 100% financing, which is a tough thing to find in today's lending climate. With that being said, there are programs that do allow for 100% acquisition financing on these rehab transactions.
The guidelines for these 100% acquisition and rehab loans are pretty straight forward. You will need cash or additional … (0 comments)
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100 financing: Hard money basics for today's market - 06/13/08 07:14 PM
I deal almost exclusively with hard money lenders, working with both borrowers and brokers to match a particular transaction with an investor. In addition, I do have access to in house funds and serve as a direct hard money lender as well. This is my business, I do conventional loans for family, friends, referrals, but my main source of business is hard money.
Hard money today is taking the place of what sub-prime used to be. The glaring difference, however, is the loan to value requirements. In today's hard money lending environment, 65% loan to value is typically the maximum you … (0 comments)
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100 financing: 100% Financing Options On The Table With FHA - 04/27/08 06:09 PM
With all the tightening guidelines, there is still one bright spot in the mortgage lending world. FHA loans are expanding their offerings, with higher conforming loan limits (see these higher conforming loan limits by California county here), down payment assistance programs and other legislation in the works to expand these programs, FHA loans are fast becoming the loans of choice.
One of the largest benefits of FHA loans these days is the potential for 100% purchase financing. FHA loans cap out at 97% loan to value on a purchase, but with down payment assistance programs, and allowable seller credits up to … (0 comments)
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