We apologize, but the forums are closed for new posts. Click Here To Join The Unemployables Facebook Group

Welcome, Guest. Please login or register.
July 25, 2021, 10:21:25 am
Home Help Search Calendar Login Register

Welcome, Guest. Please login or register.
July 25, 2021, 10:21:25 am
Home Help Search Calendar Login Register

Author Topic: HML for MD or PA purchase non OO  (Read 2549 times)

Offline realnew

  • Member
  • ***
  • Posts: 347
HML for MD or PA purchase non OO
« on: November 11, 2005, 09:21:52 am »
Hi Everyone,

I recently had a traditional lender pull my credit and prequal me. He quoted I'd be at 9.25 with 25% down.  My score is 563. I have very little cash (a few hundred).

I do not have any open credit cards - everything is in collections, and I'm paying them off at a rate of 1 per month. I'm paying off about $1200 a month to satisfy the collections.

How can I improve my scores? Would I even be approved by a HML?

Offline Chris2006

  • Member
  • ***
  • Posts: 264
Re:HML for MD or PA purchase non OO
« Reply #1 on: November 11, 2005, 03:44:42 pm »
Hello,
With your score, you could use a private money investor at 6%-9% interest and 10% down.
« Last Edit: November 11, 2005, 03:49:47 pm by cmacone »
Chris

Offline realnew

  • Member
  • ***
  • Posts: 347
Re:HML for MD or PA purchase non OO
« Reply #2 on: November 12, 2005, 05:43:22 am »
Thanks for the info, nice to know I have an option.  How can I find one?

Offline blueprints1971

  • Member
  • **
  • Posts: 81
    • Graet Northern Mortgage
Re:HML for MD or PA purchase non OO
« Reply #3 on: November 13, 2005, 11:17:25 pm »
Hello,
With your score, you could use a private money investor at 6%-9% interest and 10% down.

If you know of a hard money lender with rates that are 6-9%...I have a few deals for him.  Let me know if this is correct.

Offline Mdhaas

  • Global Moderator
  • Member
  • *****
  • Posts: 2570
Re:HML for MD or PA purchase non OO
« Reply #4 on: November 15, 2005, 10:34:53 am »


Try this link for hard money lenders....http://www.reiclub.com/hard-money-lenders.php
If at first you don't succeed.....................skydiving is not for you

 




SMF 2.0.15 | SMF © 2017, Simple Machines