Updated almost 10 years ago on . Most recent reply
LTV lenders
Hello all! I am looking for an LTV loan on a blanket of duplexes in Goldsboro NC ASAP. Im in a headache of a situation with owner financing at the moment. So I'm looking to erase him from the equation. I know traditional banks usually don't do these and I've tried a bank in Raleigh NC but the loan officer stated that the chief executive wouldn't allow them to do this type of loan this quarter due to the amount of properties they've had to take back by foreclosure. Any suggestions, comments, help, referrals would be greatly appreciated.
Thank you in advance, God bless!!
Most Popular Reply
This loan can be done under the following terms.
Must LEGITIMATELY be worth over $115K each.
Must have 30%+ equity.
Held in an entity (corp or LLC)
Must cashflow (vacant units won't count toward cashflow)
Credit preferred 680
Minimum of 5 properties
Loan request above $150K