Posted on: 07th Sep, 2008 04:37 pm
A corporation wants to purchase a home and use the leased rental income as it's only source of income. It has no other debt, nor income. The rental income for the term of the lease, 12 months would go toward payment of the mortgage, the purchase price would be at 75% of value, can a mortgage be obtained? This rental has documented leases, Sect 8 for 10 years and the intent is to continue leasing as a Sect 8 unit.
Hi bret,
Welcome to forums.
There are a variety of mortgages available in the market to satisfy the home buying needs of individuals as well as corporations. What i feel is, you should contact some lenders and see what they have to offer. You can even request for free mortgage quote from the lenders in this community. To know what happens after you receive the quotes, refer to the mortgage quote section here.
Thanks
Welcome to forums.
There are a variety of mortgages available in the market to satisfy the home buying needs of individuals as well as corporations. What i feel is, you should contact some lenders and see what they have to offer. You can even request for free mortgage quote from the lenders in this community. To know what happens after you receive the quotes, refer to the mortgage quote section here.
Thanks
what you're describing is typically nothing you will find available from a conforming lender, nor from a government lender. in all likelihood, you'll have to head to a "hard money" lender. interest rates are decidedly different in that venue, as well.
