Loan Philosophy: The Difference Between Lenders and Investors – qualifications for a conventional mortgage loan
Loan Philosophy: The Difference Between Lenders and Investors – #Loan #Philosophy #Difference #Lenders #Investors – qualifications for a conventional mortgage loan As a mortgage broker, I have the pleasure of seeing Quite a number of potential loan transactions. I used the word “potential,” because not all of them work out. Exactly, there are Quite a few turkeys in with the swans! A Public scenario is a refinance or a purchase where the investor comes to me with something like: “Man, this is the BEST property in the area, it’s worth $5 Million Dollars, and I’m buying it for $3 Million! I need a 90% loan and I need it NOW!” OK … so I’ve exaggerated Merely a bit. In reality the value of the property Testament probably be accurate for the market, but I’ll still get the request for the high loan to value. Until recently, I probably couldn’t have gotten a 90% loan on a commercial property But in the limited case of a Small Trade Administration guaranteed acquisition loan. First, because...
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