October 18, 2009 | Posted by admin Loans of this type are typically split into two different loans – the first loan being the first 80% and the second loan for the final 20%. Two loans are used to avoid private mortgage insurance (PMI) charges. The rate on the final 20% loan is usually higher.
1. Different kinds of 100% financing
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October 17, 2009 | Posted by admin 1. Use hard money lenders. Ask around or find these online. These lenders specialize in short-term loans at high interest. Typically, you use this type of financing for a “fix and flip.” You can get the money fast, and if you make $30,000 on a project, who cares if you paid $10,000 interest in [...]
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September 21, 2009 | Posted by admin The financer will want to be sure of the strength of your management team, since management is a critical element assessed by lenders. The financier will wish to see your business plan, too. This means that you will need to project your estimated project costs for at least the first several months and maybe [...]
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