All Forum Posts by: Scott Miller

Can't speak to the loan program you have referenced, but there are attractive financing alternatives for owner/investor transactions.

Programs that allow for up to 97% financing with rates in the 6s, seller concessions up to 6%, etc., could be an attractive alternative.

Regards,

Scott Miller

Without more specifics on the NOI, NOE, DSCR, etc., it's difficult to give you specifics on rate, term, etc.

There are stated/stated programs that do:

- Allow for up to 80 LTV on the first lien.
- Allow for up to 90-95 CLTV when combined with a seller 2nd.

Cross collaterization is a possible solution to make up the difference (down payment), but there are other solutions other then real estate that can be used.

Regards,

Scott Miller

I believe we are already communicating directly about this scenario---where is the property located (county/town/state)?

Regards,

You might want to consult one of the most active posters on this site (John Corey aka REI) on this matter...

Regards,

Scott Miller

Although the majority of commercial lenders do limit their lending to 75-80 LTV, there are programs that do allow for 90-95 LTV/CLTV and could effectively extend your purchasing power/leverage (downside is that the rates are in the high single digits/low double digits, requiring a healthy cash flow for it to make sense).

Regards,

Scott Miller

If you are seeking 100%, you will be hard pressed---average LTVs for land purchases range from 55-60...

Regards,

Scott Miller

I'll PM you to get the ball rolling...

Regards,

Scott Miller

I can assist you if you would like...

Regards,

Scott Miller

I'd have to know more about the property and your financial situation to provide specifics---generally speaking:

1 YR to 7 YR ARM based upon a 25 amortization
30 YR FXD available
FULL DOC or SISA (Stated/Stated) documentation types available

Regards,

Scott Miller

There aren't an abundance of small balance commercial lenders that will entertain loan amounts below 250K---I know a couple that will though...

Regards,

Scott Miller