How would you like to get an acquisition and repair loan for your investment property, and not have to make monthly payments for six months? How helpful would this be for your investment strategy and for your monthly cash flow? If you are qualified, MortgageSaver will arrange this for you!
What are the qualifications?
A strong credit fico score.
A property with a low loan to value (LTV)
ratio (No greater
than 65% ARV).
ARV= After Repaired Value
What are the specific details of the loan?
Term of the loan: Up to 1 year.
Points and Costs: That depends on your credit and level of experience. A seller’s concession may be used to finance the closing costs as long as the loan does not exceed 65% ARV.
Down payments: None. The loan will be 100% of the sale price.
When do monthly payments start? Monthly payments are not due for the first six months of the loan. After the sixth month, you will start monthly interest only payments. (If you pay off the loan before this, there will be no monthly payments).
Interest costs: This depends on your credit and level of experience. There is no penalty for early pre-payment.
Loan payoff: Principal plus the first six months of interest (or for as many months as is deferred by the borrower, up to six months).
If you don't have stellar credit we have hard money loans for you as well.
If you need a loan from the hard money lender please e-mail us.
When you work with the hard money lenders, you can not go wrong.
