All Forum Posts by: Scott Miller

What type of "stores" are you seeking financing on?

Regards,

Scott Miller

FNs will need between 20-30% down for the majority of loan programs still available...

Regards,

Scott Miller

You mentioned that you went the "FHA route"---is this an owner occupied rental property?

Regards,

Scott Miller

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

I still offer programs that don't require title seasoning---Lu, the 203K is for owner occupied transactions only...

Regards,

Scott Miller

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

Not going to happen---sorry...

Regards,

Scott Miller

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

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...

Yes, in FULL DOC and SIVA versions (depending on a number of factors like FICO, cash reserves, etc.).

Regards,

Scott Miller