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Rainmaker
2,857,049
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Hi Chuck -- I see you are in Florida --- Mortgage experts John Meussner and Joe Petrowsky are both licensed in your state(as well as others).   Either one would be a good choice to ask this question.   

Nov 19, 2016 10:30 AM
Rainmaker
2,574,687
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

I highly recommend you contact Joe Petrowsky - if it can be done ... Joe can do it.  I wish you all the best!!

Nov 19, 2016 12:09 PM
Rainmaker
3,684,181
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Chuck,

What Michael Jacobs recommended, and I agree with him.  A

Nov 20, 2016 01:19 PM
Rainmaker
1,056,735
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I second Michael Jacobs response

Nov 20, 2016 09:05 AM
Ambassador
3,629,126
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Are you looking for a lender? As Michael Jacobs said we have some great ones here in the Rain.

Nov 20, 2016 04:43 AM
Ambassador
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Ask Joe Petrowsky or John Meussner their take on this.  Good luck, Chuck Mixon!

Nov 20, 2016 01:15 AM
Ambassador
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Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I don't think it is all that rare...

Nov 19, 2016 01:54 PM
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

You have some good answers below. Good luck!

Nov 19, 2016 11:54 AM
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

I don't think it's that unusual.  I think any lender should be able to do this.

Nov 19, 2016 09:52 AM
Ambassador
797,513
John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

 This is allowable and I'd be happy to help if you still need it (thank you everyone that recommended me : )

 

As others have mentioned, Trust documents would need to be reviewed should it close in a Trust.

Nov 21, 2016 07:02 AM
Rainmaker
2,884,254
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Michael Jacobs nailed this one!

Nov 20, 2016 02:36 AM
Rainmaker
3,386,532
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

I see that all the time..most lenders can pull this off.

Nov 19, 2016 11:07 PM
Rainmaker
14,527
Steve McRory
Pro Option Mtg. 888-662-4404 - Palm Beach, FL
Mortgage Loan Originator

Yes, start packing for the move!  I know 4 banks that allow such flexability, but would have to check on the low loan amount

Nov 19, 2016 10:45 PM
Rainmaker
4,200,432
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Sorry, can't help.

Nov 19, 2016 10:02 PM
Rainmaker
2,602,211
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Some lenders will shy away from this. Some will do it with a personal guarantee. Consult your local banks!

Nov 19, 2016 09:49 PM
Rainmaker
3,956,175
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I am sure there are several.

Nov 19, 2016 09:15 PM
Rainmaker
1,419,214
Sandy Padula and Norm Padula, JD, GRI
Realty One Group - Carlsbad, CA
Presence, Persistence & Perseverance

As Patricia Kennedy wrote. Lenders will require Trust Documents with principals to the Trust involved.

Nov 19, 2016 08:59 PM
Rainmaker
4,217,672
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

should not be an issue with most lenders....

Nov 19, 2016 07:59 PM
Rainmaker
2,349,273
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sounds like a basic loan to me. Contact any of your preferred lenders in your area.

Nov 19, 2016 07:33 PM
Ambassador
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Chuck Mixon -  I think this happens - not so often, but it does.

Nov 19, 2016 03:44 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Not sure what you are asking for here Chuck, does the buyer have a family member who trusts them for this amount and has the capacity to lend this much?

Nov 19, 2016 01:00 PM
Rainmaker
839,903
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

 90% lenders will lend you money for that value.  Most brokers will decline because of such small amount. May be credit unions....

Nov 19, 2016 12:57 PM
Ambassador
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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

I'm sorry I don't have an answer for, but you've come to the right place to find out. 

Nov 19, 2016 11:47 AM
Ambassador
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Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Local lender - portfolio loan.

Nov 19, 2016 10:45 AM
Rainmaker
1,466,425
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

Good luck -- I hope you find the right lender!

Nov 19, 2016 10:37 AM
Rainmaker
3,550,921
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

It is all abouit colateral

Nov 19, 2016 10:33 AM
Rainmaker
4,555,282
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

If is not unusual for family members to be co-borrowers.

Nov 20, 2016 12:41 AM
Rainmaker
1,156,424
FN LN
Toronto, ON

Best wishes on your search.

Nov 19, 2016 12:01 PM