Need private lender for ~$300K loan on home in SATX
I’m looking to get pre-approved ASAP and purchase a single family house to live in in San Antonio by the end of this year. Looking in the $400-$500K price range and can put 20%-30% down. Won't qualify for traditional mortgage so needs to be a private mortgage. Does anyone have any ideas?
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@Barret Espe - assuming you won't qualify for a traditional mortgage due to income history/net income on tax returns. A bank statement loan may be an option for you if you have at least 12-months income history - this is a more favorable method of calculating income for self-employed individuals where we analyze your personal or business banks statements.
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Quote from @Barret Espe:
I’m looking to get pre-approved ASAP and purchase a single family house to live in in San Antonio by the end of this year. Looking in the $400-$500K price range and can put 20%-30% down. Won't qualify for traditional mortgage so needs to be a private mortgage. Does anyone have any ideas?
Depending on your situation, I can think of a few options. With that amount down I know of a stated income loan if you have good credit. If you are self employed you can also try a PnL income loan.
