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cfisk
1 Posts |
 Posted - 06/09/2008 : 11:06:53 PM
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Need blanket mortgage product for following scenario:
Credit 700
Purchase: $900K
Seller Finance: 20%
26 residential properties
Monthly rental income: $9300 (seasoned)
Location: Charlotte-area North Carolina
Buyer can put 10% down. Would like release clause.
Buyer W2 income: $3000/month
Self employed
$250k liquid
If purchase price too low ($1MM cutoff, etc.) price can be increased with kickback at close if that will work.
Please let me know if you can help. Thanks! |
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brandie
3260 Posts |
Posted - 06/10/2008 : 06:17:13 AM
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| From what I had read yesterday from Chris at EMS. Hedge funders have postponed doing blankets loans at this time. |
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swmsn
4205 Posts |
Posted - 06/10/2008 : 8:34:25 PM
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| I have a source ( BUT chris EMS is right they are very far and few between. My source requires cash flow of the properties as being the main key to this loan. |
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