All Forum Posts by: Michelle Fuller

feel free to email me at michellelynnfuller@yahoo,com

Thank you so much everyone for the fantastic insight and advise. Yes I did plan on going conventional however, I'm not comfortable with what they are requiring of me. I do plan on refinancing into long term loan for buy and loan. There are only a few minor repairs to make on the property and I have a contractor already lined up to make those repairs.

It's not that they are turning me down.. it's that I am retired early and I am on a fixed income. They are requesting that I put 85k down and pay off my vehicle which isn't a problem, I just don't understand why they are requiring so much and my agent has advised me that it could be because I am relocating.

Hi folks, My name is Michelle Fuller and I am new to BP. I am finding this site very helpful. Currently I am looking to obtain a private loan in the Houston area for a house appraised at 190k. I have 50-70k to put down and have a contract with the seller for 170k with 10k back in closing. I originally thought going with a conventional loan was the best way, however it seems to have become more difficult since Jan 2014. I have already obtained insurance as well as inspections on the property and I am expected to close by March 5, 2014.

I'm wondering if it is even possible to obtain a private loan that quickly and how I would go about marketing for that. My plan is to pay back the loan within 12 months.

Thanks for all you help and input.

Michelle

I should also mention that I also did inspections and used that information to further negotiate with the seller and he has agreed to give me 10k at closing... so the house the appraised for 190k I'm actually obtaining for 160k. I have also already lined up the insurance as well as a warranty the seller agreed to share the cost in.

I am purchasing a house in Houston TX for 170k, I have 50-70k for a down payment and the appraisal came back at 190k. I was trying to go conventional and am finding it very difficult, so now I am looking at private lending. How do I locate private lenders in Houston? I'm hoping to still close on March 5, 2014. Is that even possible to put together a deal that quickly?

Please help.

Michelle Fuller