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Forums » Private & Conventional Lending Discussion » Rehab loans/ Hard money lenders

Rehab loans/ Hard money lenders Subscribe to Rehab loans/ Hard money lenders

3 posts by 3 users

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M L


Forum_avatar_avatar-tt00

Icon_minipost Jan 29 '08, 04:10 AM

I am looking for lenders that can approve based upon the following

Credit score = Low 700's

Property cost = 110-120k
Cash Reserves= 5k

LTV for property viewing at the moment = 177k

Repairs needed about 17k repairs

High income above 90k yearly

Looking for lenders in Georgia

Edited: 06/26/2010 at 04:36AM


Scott Miller

Real Estate Lender


Forum_avatar_avatar-ezloanz

Icon_minipost Jan 31 '08, 11:21 PM

I'm aware of several programs in GA that could potentially accomodate this scenario, but your cash reserves is a bit on the low side.

There are several ways you can improve on cash reserves---taking a HELOC on your primary, getting a unsecured LOC, finding a money partner or having the contractor advance the cost of labor and materials are a few workarounds you can consider to make this deal work.

Regards,

Scott Miller

Edited: 06/26/2010 at 04:37AM


Kellen M

· Georgia


Forum_avatar_avatar-kingjoffyjoe

Icon_minipost Jun 02 '09, 03:31 AM

Scott can you please tell me some of the programs that would provide funding in Georgia?

Edited: 06/26/2010 at 08:25AM


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