Re: [RealEstate] Re: [Real Estate Investing] catch 22 situation need approval for financing

Thu, 24 Nov 2005 19:36:07 -0800

hey,
 
well with a 570 score, not sure if it's your middle, low or high, will give you a 100% LTV if it was a owner occ. purchase.
 
I work with a company that does all types of credit loans, from 470 to 900, no FHA or VA loans with my current company. Im a senior loan officer. would like to help if i can.
 
also, this company only does Ohio, so if anyone is in need of an Ohio loan for any purpose towards realestate, feel free to contact me. I may leave and go to a different company, for the ability to do the entire country...but for now, i can help with what i can.
 
 
larry
216-849-1855

Quick Flip Investor <[EMAIL PROTECTED]> wrote:
No, I want to get a loan approval and then an approval letter. My credit is not the best, 570 or 580, due to fradulant accounts, which I am working on removing, so I am looking for a hard money or private investor loan. Another investor put in a cash offer, so they willl not put my offer under contract without an approval letter and/or proof of funds. I need $283,000 for purchase and $30,000 for repairs. ARV is $500,000. If anyone can help let me know. Thanks.
 
Sincrely,
Chris Latham
(O)(321)574-0516
(H)(321)724-0196
(C)(321)266-0862
(F)(267)285-8211

Rick Lewis <[EMAIL PROTECTED]> wrote:
Chris,
You want a broker / lender to issue you a pre approval letter without
you doing an application?
Don't know anyone that would do that and if they did they would be
pretty nuts to do so.

Why are you not able to to apply for the loan and get the letter as
normal people would?

Just write that the contract is contingent on lender pre approving you
for financing which you will show proof of within 5 days of the accepted
offer. If they will not sign that, then something else is up.
Good luck.
Rick Lewis

Quick Flip Investor wrote on 11/23/2005, 1:54 AM:

> I'm in a situation where I'm looking for financing for a property,
> about 60% - 65% ARV. Many people have responded to my post about
> financing. Many want to know more info and/or see a purchase contract
> and are really trying to help. I cannot get the contract signed until
> I can show the seller an approval for financing letter. There is
> another investor who made an offer right below mine. His plans are to
> resell the property as is for $100K more. Is there anyone who can fax
> me a letter of approval, if I send them the information about the
> deal, so that I can get this under contract before I run out of time?
> If so, email or call me if you need information about the property.
> Below are the numbers on the deal. Thank you very much.
>
>   Price  -  $283,000
>   Repairs - $30,000
>   ARV   -  $500,000
>
>   Sincerely,
>   Chris Latham
>   (Office) - (321)574-0516
>   (Home) - (321)724-0196
>   (Cell) - (321)266-0862
>   (Fax) - (267)285-8211
>
>
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--
Rick Lewis
CRE Options, Inc.
Office: 651-882-7806
eFax: 206-457-4292
Cell: 612-432-6750

Creative Real Estate Options
www.creoptions.com





Sincerely,
Chris Latham
(Office) - (321)574-0516
(Home) - (321)724-0196
(Cell) - (321)266-0862
(Fax) - (267)285-8211
Yahoo! FareChase - Search multiple travel sites in one click.
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