Got approved for 80% on a home. Need 20% down or as much funds needed down to purchase the home. Was wondering if there are any creative financing or loans available to complete this. Would like to have a private money lender to do this. Credit scores are very low and am out of ideas of how to complete this. Thanks for any help.
Find a seller willing to hold a second mortgage for 20%. Finance the closing costs up to 6%.
Do a lease option with the seller. Term 3 years, 3% to 5 %. down if you can . There is a book on this site that explains the lease option program. You guys need to check all this site has to offer. This is a precious thing to have, all this knowledge in front of you, but never look.In a few months repair your credit and exercise your options to purchase. Make sure the numbers works and the property appreciate.
Do 80 % and see if the seller carry back 20%. He might go for this if you give him full price. Compromise. Make sure the numbers work. Tell me how it went. Good luck.