Updated about 3 years ago on . Most recent reply
Buying Short Sale
Buying a short sale(friend of mine) that will be about $500k. My broker is telling me that an investment loan is about 9.5% interest. Is that correct?
Going to try the conventional route. I own (2) houses. One my primary and another a rental.
My wife is not working and my income is $175k year but we have about $80k in loan debt so doubt conventional will be approved
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
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@Beau Alesi The lender is likely to not even consider your purchase contract and start the review unless you provide a Preapproval from a lender….just like any educated seller would.