Posted on: 11th Oct, 2010 04:42 pm
I am in contract for an apartment building investment property in california for PP 1 million. I am able to go 50% down and the property will generate about 40,000 net income at the outset. Personal credit score is above 780 and assets are above 4 million.
I'd like to go fewest docs possible.
What is the best loan product for me?
I'd like to go fewest docs possible.
What is the best loan product for me?
This may be extremely difficult for you. There are some loan options "http://www.dreamhomefinancing.com/LoanOption.aspx" out there but they may not apply to you because the property is an investment.
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Hi partita!
Welcome to forums!
You will have to give all the docs related to your income and financial stability to the lender or else he may not approve the loan for you. You can go for the conventional fixed rate loans and take advantage of the lower rates available in the market at this point of time. You should contact the local lenders and apply for a mortgage. The lender will check your financial stability and your credit scores and let you know what type of rates and terms you'll qualify for.
This community has a large number of lenders. You can seek a no obligation free mortgage quote from them in order to know what type of rates and terms you'll qualify for.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You will have to give all the docs related to your income and financial stability to the lender or else he may not approve the loan for you. You can go for the conventional fixed rate loans and take advantage of the lower rates available in the market at this point of time. You should contact the local lenders and apply for a mortgage. The lender will check your financial stability and your credit scores and let you know what type of rates and terms you'll qualify for.
This community has a large number of lenders. You can seek a no obligation free mortgage quote from them in order to know what type of rates and terms you'll qualify for.
Feel free to ask if you've further queries.
Sussane
