rehab financing: Commercial Rehab Construction Loans for Minneapolis REO Rehab Investors
- 09/13/09 04:56 AM
Rehab Loans are a great way to buy investment reo properties in the Minneapolis and St Paul Metro area.How they work:Purchase + Construction costs = XRehab loans require a 20% down payment of XThis means that 80% of all costs are financedThese loans do require proof of repayment and credit scores of a 620 FICO or betterMany investors and agents do not qualify for the most populiar rehab loan called the FHA 203K. It is a common mistake made that people think the only way to buy these great bank owned properties is cash if they can not get the FHA … (1 comments)
SBA 7A loans are variable rate with a maximum allowable rate of P+2.75%. They are used primarily for financing company operations, equipment, inventory, and accounts receivable, but may be used to finance real estate. Features of the program are: The maximum amount has been increased from $2,000,000 to $4,000,000 The gross receipts qualifying level of $7,000,000 has been removed. Companies must have book net worth of $8,500,000 or less, and after tax income of $3,000,000 or less. The 2%-2.5% guarantee fees have been waived. The loan to value is 90% of discounted collateral, with upward exceptions sometimes … (0 comments)
rehab financing: Bank Owned, REO, Rehab, Mortgage Loan Workshops
- 07/04/09 07:33 AM
Recently, I start a new website "Twin Cities REO Boot Camp". THe purpose of this website and the Boot Camps the site promotes is to give experienced and beginner Bank Owned REO Rehab Investors better information and tools. The world of bank owned real estate cheanges almost daily! In regards to finance, I get in the office every Monday and need to relearn my job. Starting by contacting the banks I currently put my Purchase Rehab Rent (PRR) and Purchase Rehab Sale (PRS) loans through to make sure the guidelines haven't changed. Many banks are willing to do rehab loans but … (0 comments)
rehab financing: TC Metro Rehab Mortgage is available!
- 04/14/09 03:32 PM
I have heard many real estate agents say that the only way to close on condemned houses is cash.This is not true!There is a GREAT residential REHAB loan:This is how it works:- 80% LTV of the purchase plus construction costs- 620 Minimum FICO- 50% DTIIt is that easy!Dax Dickson 612-578-9898 Closing Creative Commercial Mortgage Loans in Minnesota!!!!!!!!!!!! Learn more about Bank Owned investing
Learn more about commercial mortgage loan programs available in the Minneapolis & St Paul, MN Metro area that can help those looking to secure purchase rehab mortgage loans for properties that do not qualify for programs like private/hard money … (0 comments)
rehab financing: WOW! Life is GREAT!!!!
- 04/14/09 02:47 PM
WOW! This market is awesome! I really think the Minneapolis & St Paul, MN REO Rehab property market is better for real estate and finance professionals than the refinance and housing boom. Things are getting so busy I have had to solicit new banks because the ones I have been doing all of my Purchase Rehab Rent (PRR) and Purchase Rehab Sale (PRS) mortgages with can not handle the volume. It would be great to hear the success stories of others out there investing, selling real estate or in the mortgage finance business. Dax Dickson612-578-9898
Learn more about commercial mortgage … (4 comments)
Required Documentation: A PERSONAL FINANCIAL STATEMENT (PFS) FOR EACH PARTNER with an interest of 20% or more. BANK STATEMENTS and ASSET STATEMENTS for any and all accounts listed on the PFS LAST 3 YEARS’ TAX RETURNS (business & personal) for each partner with an interest of 20% or more in the project. COPY OF FULLY EXECUTED PUPRCHASE CONTRACT. SWORN CONSTRUCTION STATEMENT including hard and soft costs. BACKGROUND/BIO ON EACH PARTNER emphasizing development/construction/renovation/real estate experience and past projects successfully completed. PERMISSION TO … (0 comments)
rehab financing: Residential REO Rehab Mortgage Financing Made Easy in the Twin Cities
- 02/26/09 12:15 AM
Twin Cities Minnesota Mortgage Solution for Rehab Finance Solution and REO Bank Owned Purchase Construction Financing Many real estate agents in the Twin Cities MN area and investors buying corporate owned home in Minneapolis / St Paul that are in need of repairs have expressed concerns about the current "Credit Crunch" and not being able to secure the non-Fannie Mae financing to acquire these properties. My team listened to your concerns and worked with community banks to create two comprehensive mortgage solutions for those in need of commercial finance solutions for residential investment properties. Solution One: Purchase … (0 comments)
rehab financing: Investor Construction Rehab Loan for the Twin Cities METRO
- 11/01/08 07:54 AM
Many agents and buyers have asked "How can I get financing for my investor clients if they want to buy BOARDED & ABANDONED properties in the Twin Cities Metro" and "I know about the FHA 203K program for owner occupants but what can I offer my investors for rehab and construction financing"? My answers: The FHA 203K program is awesome for owner occupants in the Twin Cities, MN Metro and we offer it but that is not the only solution. Not many finance people in the Twin Cities really understand rehab & constuction mortgage financing! Here are the basic guidelines for our Residential … (0 comments)
Rehab Loans are a great way to buy investment reo properties in the Minneapolis and St Paul Metro area.How they work:Purchase + Construction costs = XRehab loans require a 20% down payment of XThis means that 80% of all costs are financedThese loans do require proof of repayment and credit scores of a 620 FICO or betterMany investors and agents do not qualify for the most populiar rehab loan called the FHA 203K. It is a common mistake made that people think the only way to buy these great bank owned properties is cash if they can not get the FHA … (1 comments)
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