I’M A BROKER TRYING TO DO A LOAN FOR A PASTOR WHO IS WANTING TO USE HIS CHURCH TO GET A LOAN TO PURCHASE THIS RESIDENTIAL PROPERTY. EVERYONE I’VE TALKED TO SAYS THAT FANNIEMAE WONT ALLOW IT AND THAT CORPORATIONS CANT PURCHASE RESIDENTIAL PROPERTY. HE HAPPENS TO OWNS AND HAS A LOAN OUT ON THE RESIDENTIAL PROPERTY AND WANTS THE LOAN OUT OF HIS NAME AND INTO THE NAME OF THE CHURCH.
ARE THERE ANY PRIVATE INVESTORS WHO WILL LOAN THE CHUCH THE CASH TO DO THE LOAN OR OTHER OPTIONS I HAVEN’T CONSIDERED/[b][/b]
Woah, take the caps lock off.
I am a broker as well.
Most commerical lenders will do loans to churches. Your residential lenders won’t touch it.
Have fun with Commercial lending. :rolleyes