Posted on: 29th Apr, 2009 03:03 am
Hello all, we are a english company, and we have the chance to buy several MultiFamily Apartments in the USA. All MF Apartments have min. 85% occpancy. The prices are between US$50k - 750k, the appraised value are higher. Is a Mortgage with 85-90% LTV possible for us?
Hi siegert,
welcome to the forum
You are asking our opinion whether you should purchase it or not??
In my opinion if you are getting the mortgage loan (as you are English company) then i won't find any problem to go for the deal.
Are you planning to purchase single apartment or apartments?
If it is apartments and that too also in a good prime location then you
should go for it.. thats what obama man can say about it.
:lol: :lol: :lol:
welcome to the forum
You are asking our opinion whether you should purchase it or not??
In my opinion if you are getting the mortgage loan (as you are English company) then i won't find any problem to go for the deal.
Are you planning to purchase single apartment or apartments?
If it is apartments and that too also in a good prime location then you
should go for it.. thats what obama man can say about it.
:lol: :lol: :lol:
Hi gunzijjistaff,
thanks for your answer. Possible for us Houses with 2-6 units or Apartment propertys with 16+ (max 50) units.
Our problem, we have no credit score in the USA.
thanks for your answer. Possible for us Houses with 2-6 units or Apartment propertys with 16+ (max 50) units.
Our problem, we have no credit score in the USA.
Hi siegert,
Most welcome to you.
I think that best credit score will always help to us to get financial helps.
It will make you help to get qualify for loans & other activities. It will improve your reputation.
Thanks & Regards. ( :lol: :lol: :lol: )
Most welcome to you.
I think that best credit score will always help to us to get financial helps.
It will make you help to get qualify for loans & other activities. It will improve your reputation.
Thanks & Regards. ( :lol: :lol: :lol: )
Nobody who can answer? :cry:
Hi siegert,
Loans with higher LTV ratio are seen as higher risks by the lender. Lenders generally approve loans with LTv as high as 75-80%. With LTV of 85-90%, you will have to pay a very high rate of interest and you will also need to purchase mortgage insurance. A good credit score is another important factor that the lenders look for while approving a loan. It is a certainty that the lenders will check your crdt score to assess your credit worthiness. Since you do not have a credit score, getting a loan with a high LTV will not be easy. However, there is no harm in contacting some of the lenders and see if anyone of them has any good loan offer for you.
Loans with higher LTV ratio are seen as higher risks by the lender. Lenders generally approve loans with LTv as high as 75-80%. With LTV of 85-90%, you will have to pay a very high rate of interest and you will also need to purchase mortgage insurance. A good credit score is another important factor that the lenders look for while approving a loan. It is a certainty that the lenders will check your crdt score to assess your credit worthiness. Since you do not have a credit score, getting a loan with a high LTV will not be easy. However, there is no harm in contacting some of the lenders and see if anyone of them has any good loan offer for you.