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pbaskett
43 Posts |
 Posted - 08/23/2008 : 08:05:46 AM
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I have a builder that would like to finance a 2 & 4 plex that he built. They decided to put the units into long term financing and rent them out. Both borrower's can document income and assets. Both have $150,000 in reserves. Looking for an ltv of 75%. They can either buy the units from their company who is currently on the construction loan, or refinance.
2 plex:
value: $320k
4 plex:
value: $600k |
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chriscall
183 Posts |
Posted - 08/25/2008 : 10:21:44 AM
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We can do both, however the maximum properties the borrowers can have is 4. If that's the case then we should be good to go. Please give me a call to discuss this scenario further.
Thanks,
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mdietz
231 Posts |
Posted - 08/25/2008 : 11:44:43 AM
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We can also do this and be ready to close in 3-5 days. Max property policy applies with us as well.
Please call or email for pricing - include zip code
Michael Dietz
Account Executive
Dream House Mortgage Corporation
401-262-5623
mdietz@dhmc.com
WE CLOSE GOOD LOANS FAST!
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