Our very own mortgage consultant Huck Ferrill has put together this concise yet revealing look at the state of lending today. If you are considering buying a home in the greater Sacramento area, but are concerned about getting a loan, give me a call and I will direct you to him and then into the house of your dreams! I will be covering this in a five part series. So read on and come back for more!
We think we're seeing way too much bad news in the real estate market, stock market and the economy. So today we're here to offer a few bright spots in the area of residential lending.
Myth: There is no longer financing available for investors in rental property if the investor owns four or more financed 1 - 4 residential family dwellings.
Fact: A very limited number of lenders don't care how many other financed properties an investor owns. They will make loans to rental properties upto 75% LTV, for rates as low as 6.5% with 1 point (6.75% APR) interest only.
How about that? Come back through the week for more busted mortgage myths!
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