Posted on: 13th Jul, 2011 09:57 am
I own a business and wish to purchase a loan and have the cash to put down 20-25% for a home loan. We have excellent credit and have never been late for a payment! We are looking to purchase a home in Florida, and our home is already under contract. Our business is worth $1.5 milllion, and it is paid for. We would like to find a mortgage other than conventional! Our account that prepares our taxes makes it so we don't pay taxes! PLEASE LET ME KNOW WHERE TO LOOK!! THANKS, MARK
Mark, I'm afraid that the latest news we've all heard concerning no-documentation mortgages is that they're pretty much limited to a few states, and that Florida hasn't been one of those.
You might end up with a private lender who'd be willing, perhaps, to go out on a limb. If you're working with a particular realtor, you might be able to get some insight into where the private lenders are in that area.
You might end up with a private lender who'd be willing, perhaps, to go out on a limb. If you're working with a particular realtor, you might be able to get some insight into where the private lenders are in that area.
You have a good plan but doing it in Florida is quite a challenge when it comes to applying for a low doc home loan.
Truly tedious now