2006-07-30 10:23:45 · 5 answers · asked by shermanator 1 in Business & Finance ➔ Personal Finance
I already own the property, looking to borrow the most money possible.
2006-07-30 10:51:08 · update #1
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.
With very low values (see previous), you'll get lenders to bite off on that easier due to risk / liquidity.
2006-08-01 20:03:24 · answer #1 · answered by rogerv_dotcom 1 · 0⤊ 0⤋
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).
2006-07-30 10:31:41 · answer #2 · answered by kako 6 · 0⤊ 0⤋
once you purchase this homestead for 80K pounds, then get a house fairness loan. this materials 2 loans on the valuables. extra clever to apply your man or woman money and sweat fairness as much as you could. A lender will never provide you a loan for extra desirable than they confirm the properly worth of the homestead. What you tell them makes no difference to them. they are those handing out the money, so they enable you be responsive to what they're going to do.
2016-11-03 08:03:05 · answer #3 · answered by ? 4 · 0⤊ 0⤋
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.
2006-07-30 15:17:47 · answer #4 · answered by Samantha H 1 · 0⤊ 0⤋
Or probably more, if the cash flow from the business of operating justifies it. Some of this depends on your track record with lender.
2006-07-30 10:31:10 · answer #5 · answered by The Advocate 4 · 0⤊ 0⤋