Posted by Ed Garcia on May 02, 2008 at 09:52:38:
In Reply to: Upstate NY investors - 12k down on 55k purchase posted by Matthew on May 02, 2008 at 08:58:45:
Matt,
You haven’t provided us with enough information. We don’t know if these people have good credit or not. This would appear to be a deal that could go FHA with 3% down which would amount to a little more then first and last months rent so with $12000 down this should be a no brainer.
The first thing I would do if I were you is to go to a Mortgage Broker and get these folks pre-approved. Obviously what you’re not telling us or don’t know is what’s hanging this deal up. On a bad day you could go to Beneficial Finance, Household Finance, Citi Finance, just to name a few if the deal has credit issues. There’s too many ways to put this deal together for it not to be a deal.
Ed Garcia
- Re:This is WHY - 12k down, 55k purchase Matthew 10:02:59 05/02/08 (0)