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Mortgage Grapevine

Loan scenario: SC, $390,000, , 60% LTV, Purchase, nodoc, OO

State: SC

Amount: 390,000

Property type: COM

Documentation: nodoc

FICO:

LTV: 60%

Occupancy: OO

Loan purpose: Purchase


Hello Group,

Sorry for the mistake in the last post!...

Hello Group,

I have a Church organization that would like to purchase($300,000) and renovate($90,000) an Industrial/Warehouse property in South Carolina on approx. 3 acres. Current Market Value is approx. $645,000...

Are there any reputable lenders that will fund this type of property, with LTVs based on the current Market Value, instead of the Purchase Price? If so, please reply with your contact info!

Thanks, in advance!
Respectfully,
Lee

by HunterFinancial September 17, 2012 12:41 PM


What You're asking for is a no money down stated loan....Man I don't think this will fly...sorry.
by Power Pig September 17, 2012 2:35 PM


Not a chance
by adelphos September 17, 2012 3:36 PM


I agree. Most church lenders aren't looking to go above 65-70% of the purchase price.

Hard money would be most likely be even lower given the type of building it is now and the nature of the borrower.
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by FAST AND RELIABLE September 17, 2012 8:52 PM


We represent hundreds of specialty lenders that focus on tuff deals like this. If you are interested in getting a loan review email me at commerciallending@aol.com and we'll take it from there.

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by freedomlender September 20, 2012 8:55 AM


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by creditsolut October 29, 2012 9:48 AM


In reference to the posting on 9/17/12, Please do not respond to the loan offer. It is a scam. Whoever it is has used my name and tied it into another email account. Again, I am not a loan officer .
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by kajor August 13, 2013 9:07 AM


Re: 9/17/12
And I am refering to the so-called loan service from Texas.
I too was scammed.
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by paulbrowninvestment January 7, 2014 3:45 AM


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