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05-10-2008, 12:56 AM
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#1 |
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Registered User
Join Date: May 2008
Posts: 1
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Need help with mortgage lender
I am trying to find financing for a rental property in North Carolina. I am planning on purchasing a townhouse that already has a tenant who is paying $800 on a 2 year lease that started in Jan 08. The townhouse is worth $115,000 and I am planning on putting down 10%. I currently don't own a house (this will be my first investment), I live with my parents in NJ. I have been researching to find out a lender that will provide me at least 90% financing for an investment property with a low interest rate (I know in this market it is hard to get low financing). But, can someone please provide me some suggestions? Thanks a lot.
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05-10-2008, 07:51 PM
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#2 |
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Registered User
Join Date: Mar 2004
Location: New York
Posts: 1,351
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Cue the deluge of mortgage and payday loan links!
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05-12-2008, 12:55 PM
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#3 |
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Registered User
Join Date: Jan 2007
Posts: 104
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?
Just curious.......why are you trying to buy a rental property if you don't have a primary residence yoiurself. Sounds like this could get tricky if soon down the road you went to buy your primary residence and had to tell them that you never owned a primary residence but did own a rental property?? But maybe not. IDK. Just shop around for the best rate.....research research research.
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05-12-2008, 01:38 PM
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#4 |
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Registered User
Join Date: May 2008
Location: Binghamton, NY
Posts: 37
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Thats about all you can do...Research. I would make some calls to some banks/firms in NC and see what kind of rates you are getting. Good luck!
__________________
Recent college graduate with a concentration in credit counseling. |
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05-13-2008, 11:01 AM
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#5 | |
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Registered User
Join Date: Sep 2007
Posts: 46
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Quote:
That is funny! That is a classic set up for for the same person or his friend with one post to tell us all how great their particular company is.
__________________
Michael Taylor Broker/Owner Rebate Real Estate Indianapolis Real Estate | Indianapolis Mortgage | Fishers Real Estate |
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05-13-2008, 07:50 PM
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#6 | |
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Registered User
Join Date: Nov 2007
Posts: 54
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Quote:
www.mortgage.com! www.paydayloan.com!! LOL |
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