Investor Fianancing

**REbuyersgroup** · 03-08-2007, 04:41 PM

Due to the sub-prime banks either going out of business or changing their underwriting guidelines, we are having trouble finding banks that will continue to provide investor loans.

If anyone is a banker, or broker dealing directly with banks that are still providing inverstor loans, please let me know.

Just when we find one, a week later they cancel the program. It's killing me. Hard enough to get buyers, now we can't get financing.

**TJ2007** · 03-09-2007, 11:35 AM

Craig,

Let me know what you have, I have been doing loans in FL for over 6 yrs...

**REbuyersgroup** · 03-11-2007, 08:59 AM

Hey Tim,
Still working out the details. I have 28 Buyers for discounted builder closeout homes in Tampa. They are connected to a group in CA but I may be able to get the loan side, since they are having problems with banks closing up shop. I'll let you know. Builders is only giving us 30 days to get these closed at 40% discount.

**Investment Loans** · 03-12-2007, 11:08 AM

The main question here is why subprime lenders were being used in the first place.

Were these lenders being used because of credit challanged investment buyers or because of the reduced documentation benefits?

If these loans were being made for reasons other than credit, then there are plent of other options available. These include 100% purchases, cash out with no seasoning, unlimited properties, and loans made to true foreign nationals investing in the US.

To Our Success!

Ben Carmona
Mortgage Planning Consultant
'Specializing in Investment Loans'
314-914-6052 (c)
866-226-6309 (f)
EliteMortgagePlanning AT BenCarmona DOTCOM

**TJ2007** · 03-12-2007, 11:17 AM

Ben,

I would love to know how many 100%ltv investor loans you are doing a month?

Sounds great to get investors attention but they never seem to make sense for most of my clients or the guidelines are so ridiculous & tight on ratios and what they actually allow for rent it's just silly.....

**Investment Loans** · 03-12-2007, 11:31 AM

1 or 2 every couple months.

One of the key points to getting these loans approved is knowing the cash flow of the property.

There are only a handful of lenders left that offer this option and most have restrictions to properties that have a negative cash flow. Unless the property is being baught siginficantly below market value, it will most likely have a negative cash flow as determined by the lender.

The restrictions are either flat out not approving the loan or requiring that the investor have 12 months of reserves instead of 6 months of reserves. I do have 1 lender that doesn't have a cash flow restriction.

We've found that alot of times too, the type of investor needing 100% finaning just doesn't have sufficient assets available for qualifying. Not only that, most of the times their intentions are to flip the property quickly which can affect the relationship that a broker has with a lender. Most of the wholesale lenders that a broker works with are business to make long term loans and frown against clients who close out their loan with out making 4-6 payments.

The clients that approach us with a high enough credit score, assets, and are looing for 100% financing on a cash flowing property in which they plan to keep the loan for at least 6 months generally wont have any issues with finding financing.

To Our Success!

Ben Carmona
Mortgage Planning Consultant
'Specializing in Investment Loans'

EliteMortgagePlanning AT BenCarmona DOTCOM

**OneFeePlus.com** · 03-19-2007, 10:09 PM

We still have 100% loans available for both full doc and stated income (combined with our flat fee program we can't be beat). We do loans throughout the country as well. We specialize so much that we are ranked #1 in google for Investor Mortgages visit yourmortgagedoctor.com and investormortgage.org for a sampling of recent rate quotes

Thanks
Danny