All Forum Posts by: Jackson Mosley

I'm having the Seller carry back a second and I need to show a verification of the down payment.  There are companies that will charge a fee to set up an account for you (in your name or the name of your institution) so that the lender can verify funds.  They'll place the funds there.  However, you cannot access this money.  You're just paying for a service to use someone else's funds so that it's a true verified account.

Can anyone recommend a reputable VOD company?

Does anyone have a contact for blanket mortgages?  This would be for a purchase.  The current owner has no debt against the homes.  There are about 16 of them and the value is around $320,000-$350,000.  The income is approximately $11,000/mo.

Also, assuming you do have a lender, are they going to require an appraisal or will they value it off of the income?

Your help is greatly appreciated.

Hi,

I just got a duplex under contract in Bakersfield. The property is grossing $1,500/mo. I have a middle score of 750, but I have no reported income so I doubt it if I would qualify for a FHA or conventional loan. Does anyone know of a lender that will give me 85-90% LTV? There is no deferred maintenance (the property was recently rehabbed about a year ago). The other option is to bring in a family member with not so good credit, but has enough income.

No 401(k) that I can use, no collateral, and I currently have about four recent credit card inquiries (that I was approved for) that are showing up on my credit report.

How easy would it be to get a bank loan with my credit score?

Any suggestions?

Thank you Brandon for the advice.

Cody and Cornelius,

It is good to meet you.  Looking forward to a fruitful relationship.

Everyone,

Thank you for such a warm welcome.  I see that I've made the right decision joining forces on this site. I look forward to seeing posts and updates from you guys in the future.

Hello everyone,

I'm looking forward to a successful venture with all of you.  I'm hoping to learn as well as teach.  Thank you in advance for everything.