Looking for a lender who will...

…lend with zero down. You can check my credit (~682), my income (~$18k), what ever. I have nothing to hide. As long as I get the loan at the terms I need and in the time frame required. I have little to no skin to put in my current deals. I do have money to put into the deal ($2k liquid $18k non-liquid) it is just a matter of not having enough money to put in the deal…its all I got what can I say?! Also I won’t pay any fees of any kind upfront unless there is a guarantee in writing that I’ll get the loan and the broker operates here in the US. I don’t like the idea of paying someone to “try” to get me a loan.

Conventional mortgage brokers will give me a no in seconds, and I don’t know how to go about searching for non-conventional lenders. Which is why I’m here.

I use buy and hold strategy. Any loans from any source will be calculated into my analysis to make sure I’m not operating at a loss even in a worst case scenario. Once a conventional refinance can be qualified for, you’ll have your money back. I don’t currently have any investment property. I have been studying up on real estate investing for the good part of 3 years. Much of my BA degree was geared toward real estate investing as well. I’ve learned all i can from books, “gurus”, and the internet. It is just now time to jump in and learn from experience.

If anyone suggests I ask family, or friends to co-sign or lend me money I’ll punch 'em. I’m uncomfortable with the idea, but I may consider partnering with other investors so long as they don’t make things difficult.

Any helpful input would be very much appreciated.

So… first time buyer, has no skin to put into game, doesn’t want to pay upfront fees, zero down,…

Unfortunately, you may want to rethink your plans. This may not be the way for you start in the business. You did not mention what the LTV was on your deals, but even a Hard Money lender is going to want a really sweet deal with some kind of investment on your part.

Naj- didn’t the books and internet tell you that no-money down loans have gone the way of the dinosaur? GET REAL! and its really too bad that you won’t ask a family member to co-sign, because maybe you should step out of your comfort zone and TRY IT, because its probably your best best right now if you want to buy and hold. or start with wholesaling and build up some cash until you have enough to buy a couple props.


I dont blame you not wanting to put any money down on your invesment pruchase. The only way you are going to get a loan like that is from a hard money lender. There are lots of hard money lenders that would love to give you a loan. Some of them will even do it with no money down whatsoever. Some companies will alow you to go several months without making payments. However you are going to have to be buying properties at 50-65% Loan to Value. There are a few companies that will do Loans to After Repaired value and will even give you some money for fix ups.

Relax on punching people in the face… The whole real estate game is about relationships. You want to make friends not enemies. Everyone you meet will be helpful to you at some time in your investing carrer, so give people High fives rather than a punch.

Makes some calls to some hard money lenders in your area, as long as you are buying a good enough deal you will find the money. Keep in mind they will want you to get the loan paid off very fast. Most hard money lenders want to be paid off in 30 days to 6 months tops.

If you have not purchased any properties before, It may be best to start buying to resale and start getting some cash in your pocket. Then you can use the profit to buy rentals for cash. You can then continue to use the money from the hard money lender to buy and fix up more properties.

Some times it takes two steps to make one move.

Happy Investing

guys guys.

Its not about not wanting to put any money down on the deal. I would gladly put money in the deal. Its just that I don’t have enough. Not enough for any mortgage brokers I have met with anyway.

The “punching people” was just a joke. They really ought to invent a joke or sarcasm font, but that is a rant for another forum.

Asking family and friends is out because most of them are just blue collar workers who want nothing more than to pay their bills ontime, and have a little extra spending money. I’m the “crazy” one in the family you know? And the comfort zone thing was unfounded because depite the above description of my immediate relationships, I HAVE asked. I got all kinds of creative answers that all boiled down to a no. The idea I was uncomfortable was the thought of partnering up with other investors I have never met. Strangers. I have no knowledge of how to protect myself in such partnerships, hence I’d prefer stick to what I know, and leave the complicated legalities of partnerships for a time when I have more experience.

I find LTV means different things to different people. The mortgage brokers and hard money lenders I have talked to refer to the VALUE as the purchase price. In that definition, LTV will always be %100 no matter how low you negotiate the price. Its frustrating. :banghead

Then again some go with the traditional meaning of the term, and yet (as Mdhaas put) they still ask for me to put some skin in no matter how sweet the deal. While willing, I often don’t have enough for their comfort level. (though there was one guy in florida who contacted me. MGM?, Saj Habib? anyone heard of him? He wanted $500 up front with no guarantees. Sounded fishy, so I politely turned him down)

But on the subject of LTV, I do have a question: what comes first, the contract or the prequalification letter? The real estate agents in my area won’t “waste their time” with me until I have some sort of proof of funds. Likewise, Hard money lenders want to know the LTV of the deal. Do you see the circlular logic here? How can I get a deal under contract to show the lender if I don’t have a prequalification letter, and how can I get a prequalification letter for the agent if I dont have a deal under contract? Also frustrating. :banghead

Some of you also mentioned flipping, wholesaling to raise capital. That may just be the way to go, IF I can get a good lender.

Wrirya (probably the most cool sounding poster here) said

which is the exact reason why I’m posting in the first place. While I appreciate the advice, I’m here for contact info. Can anyone provide me with the contact info of a lender that Wrirya described?

Thanks all