Do lenders still have delayed financing products?

Question

Do lenders still have delayed financing products!? I purchased a property cash, and don't want to wait the 6 months.

I've read and heard about delayed financing for cash purchases, but I haven't actually seen anyone execute this strategy, or heard of a lender that supports it.

Caroline Gerardo · Answer

Can't go Fannie Freddie (not buying)  with a non owner plus loan under $40000. as the point adds makes it a High Cost loan (3 points at par rate plus title escrow processing appraisal...) I have a product that is not Qualified Mortgage that will give you 75% loan to value. Non owner loans are expensive, refi or purchase lenders must keep them.

Timothy Hero · Answer

My lenders offer this.

Jared Rine · Answer

@Justin Franklin..I'd tend to agree with @Caroline Gerardo and 2nd her opinion.  There's not going to many out there for your specific situation; doesn't mean lenders aren't doing delayed financing.  Since you're dealing with not even loan amount but $50k-$70k in value, I'd prob be looking for relationships with local banks to the area.  I have money for those types of loan amounts, but you probably won't like the 'sticker shock' of the terms.

Justin Franklin · Answer

@Jared Rine My limiting factor has been minimum loan amounts - I’m working with SFRs in the Midwest... ~$50-$70k in value

Justin Franklin · Answer

@Caroline Gerardo yes. My limiting factor has been minimum loan amounts - I’m working with SFRs in the Midwest... ~$50-$70k in value

Jared Rine · Answer

@Justin Franklin..yes, it should be decently simple if you're qualified.

Caroline Gerardo · Answer

Yes. Can you qualify with IRS taxes?

Do lenders still have delayed financing products?

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