|
Housing-Info.com Call us today (877) 313-5954 |
Recycle Down Payment
|
|
Recycle Down Payments
It’s time to get back into the market.
Let me tell you why: If
the purchase price plus renovation costs (total acquisition cost) is less than 75% of the after improved value, we can finance
100% of the project. We do require a deposit equal to 20% of the initial deposit. Once the project is finished,
the loan used for acquisition is refinanced into permanent financing. To increase the cash flow, the take out loan could be
an interest only or adjustable rate product. Follow this example: . An investor finds a property that needs several
thousands of dollars of work. Working with our team, we have determined the after improved value to be $200,000.00. Our contractors
estimate it would take $40,000 to repair the property. The maximum purchase priced was determined by . ·
$200,000
“After Improved” value · $140,000 Maximum Loan Amount ·
-
40,000 Repairs · $100,000 Offer Price . The investor made a $28,000 deposit, equal to 20%
of the $140,000 acquisition costs (purchase price plus the cost of repairs). The $140,000 loan will need to be paid off once
the work is finished. The loan will be paid with a permanent loan with a total monthly payment less than 85% of the projected
rents. Get the support you need. Let us know your scenario. We can provide: . R Potential
Investment Properties R
Rent comparables R Comparable sales R Financing
Scenarios R Contractor’s Bids . Call us at (877) 313-5954 or email us at info@housing-info.com. This site is maintained Ozell Jackson,
a loan officer with The Legacy Group license# MLO-113222, for the purpose of informing people of real estate financing options.
Industry average interest rates provide by MORTGAGE
New Daily (click here for more information about mortgage rates). This is not an offer to lend at a specific rate. Several factors determine an interest rate. For a personal rate quote,
call (877) 313-5954. This does not constitute a commitment to lend. All
loans subject to full underwriting approval and satisfactory appraisal. Program subject to change without notice. Individual(s)
listed are employees of Legacy Group Lending, Inc., NMLS ID #4455. Affiliated companies: Legacy Group Capital, LLC NMLS #99045,
Legacy Group Escrow, LLC License # 540-EA-40580. For state specific licensing information visit www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/4455. January 2nd, 2012.
 |
