All Forum Posts by: John Broussard

I have clients that come to me all the time seeking to pull cash out on their primary residents  because they can't qualify for conventional financing. They get really pissed off when  they find out it's illegal  to do it any other way except with conventional financing. It's frustrating to not be able to access the equity in your property when your in a tough financial situation.

Hi Stacey,

Welcome to BP, I am on the financing side of the business, so any question you may have regarding financing I would be glad to answer. Good Luck...

You have two options, a stated income loan or a loan based off the properties Debt Service. They are basically the same type of loan, the stated income loan will require a 700 fico score, source and seasoning of closing funds,  25% down. Most stated programs only offer 3/1, 5/1, 7/1 Arms. The other loan is based off of the properties cash flow and the lenders Debt Service requirement, 620 fico score requirement and 25% down with 30 yr fixed terms available.

Hard Money or Private Money Bridge Rehab Loans are offered as low as 8.99, there are investors offering loans below 12% in the market. This deal could possibly work with a Buy-Rehab-Hold program.

You can obtain a blanket loan to cover all four properties and it would be considered a commercial loan. Your down payment would be 25% of the total purchase price plus closing cost. We do these types of loans all the time.

Hi Tatiana,

I am on the financing side of the business, 70% ARV is the max we are financing so you don't want to exceed that as a rule. We see a lot of deals in Houston and surrounding areas at 65 to 70% ARV. You may want to connect with a realtor who works with investment properties, they can find good deals and run CMA's.

Stated Loans a available so are loans based off of the properties cash flow by reviewing the debt service on the property. The rates are not competitive with bank rates, they fall is the 7 to 8% range.

In this case you would either refinance or sale the property. Most CL offer 20 to 30 yr terms fixed terms or Arms. If you have additional question regarding Commercial Loans. I would be glad to answer them.

With banks it will be determined by your income,10 is the max under your personal name. Alternative Investor loans/business prupose loans have no limit and are not based on income, they are based off of the property cash flow or stated income loans. Both investor products can be purchased under LLC's as well.

We are here in Houston and offer Private Money, Hard Money and Stated Income Financing. If you have any question feel free to ask.