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Is there a bank or mortgage company that will lend 100% appraised value on an investment property? |
I already own the property, looking to borrow the most money possible. 100% Non-Owner-Occupied is possible but very ugly on the terms. If you can deal with 90%, you'll get far better rates, but as of May 2006 these were still available. I'd bet they've tighten up since. 100% investment property (purchase) financing is available at decent rates -depending on credit score, doc type, property type. Cash outs refinances, to 100% using appraised value are available; rates aren't great, but you are getting use of the cash. Report It Or probably more, if the cash flow from the business of operating justifies it. Some of this depends on your track record with lender. Only if you have a huge amount of collateral. Like if are worth $100 million, and you want to buy a little cottage for $50,000. Then they will probably lend it to you. Otherwise, likely not (unless it will have some huge interest payment, and then again you will need some form of collateral). Actually I found one.......HSBC Finance. It is a Finance company out of Canada. Used to be called Household Finance. They rewrote my mortgage and my house was appraised at 55,000 and they wrote me a loan for that amount. |
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