All Forum Posts by: Scott Miller
Scott Miller has started 16 posts and replied 571 times.
Post: Business Loan / Hard Money??

- Real Estate Lender
- Posts 642
- Votes 13
What type of "stores" are you seeking financing on?
Regards,
Scott Miller
Post: Source for Foreign Nationals financing in Tennessee

- Real Estate Lender
- Posts 642
- Votes 13
FNs will need between 20-30% down for the majority of loan programs still available...
Regards,
Scott Miller
Post: Desperate for some Financing Help!

- Real Estate Lender
- Posts 642
- Votes 13
You mentioned that you went the "FHA route"---is this an owner occupied rental property?
Regards,
Scott Miller
Post: Loan Officer Question....

- Real Estate Lender
- Posts 642
- Votes 13
I offer an 80 ARV FULL DOC rehab program for investors with a 25 amortization with rates currently set at 7.34%---roll in purchase + repairs + closing costs (need to make mortgage payments, but they are I/O)---advances 10% of the cost of repairs at closing (this is unheard)---641 FICO required---100% financing possible...
Regards,
Scott Miller
Post: Cash-out Refinancing

- Real Estate Lender
- Posts 642
- Votes 13
I still offer programs that don't require title seasoning---Lu, the 203K is for owner occupied transactions only...
Regards,
Scott Miller
Post: "Mad Money" Less Bearish On REI

- Real Estate Lender
- Posts 642
- Votes 13
Kramer isn't bullish on bank stocks, but he is becoming less bearish on real estate investing though...
http://www.thestreet.com/s/cramers-mad-money-recap-fed-wakes-up/funds/madmoneywrap/10399887.html?puc=googlefi
Regards,
Scott Miller
Post: No money down, stated income, 760+ midscore.. what can I do?

- Real Estate Lender
- Posts 642
- Votes 13
Not going to happen---sorry...
Regards,
Scott Miller
Post: The FED Drops Trou Today---This Will Save You Money...

- Real Estate Lender
- Posts 642
- Votes 13
If you are thinking about purchasing or refinancing a commercial property.
In an unprecedented move, the FED cut its core indexes in a intra-meeting by 75 basis points (3/4 of a point or .75%---the last time the govie did this was after 9/11).
What does this mean to commercial property owners?
Plenty, particularly when you consider alot of banks peg their rates to the prime rate.
So with one day rate drop from 7.25% to 6.50%, what should you do?
WAIT!
The FED is meeting again next week, at which time there might be another downward movement---if this doesn't come to fruition, it's time to "lock and load" (particularly if you got a commercial mortgage in the last 12-18 months).
I'll be monitoring the commercial markets intensely in the upcoming days and will avail myself to anyone that needs guidance on this matter.
Regards,
Scott Miller
Post: I need a financing solution

- Real Estate Lender
- Posts 642
- Votes 13
Assuming that this is investment, I would suggest that you review the merits of a rehab loan (whether it be conventional or hard money)---programs would allow you to finance 100% of the purchase + 100% of repairs + 100% of closing costs (and in some cases, 100% of the mortgage payments) and you could use the down payment as cash reserves.
I offer a 80 ARV program in MA for investors with rates currently below 8% that might be suitable for your intentions.
Regards,
Scott Miller
P.S. BTW, I live in Worcester County...
Post: 10% down

- Real Estate Lender
- Posts 642
- Votes 13
Yes, in FULL DOC and SIVA versions (depending on a number of factors like FICO, cash reserves, etc.).
Regards,
Scott Miller