Does anybody now off a lender that would give a good interest rate for a tire 4 loan? the property is located in Ohio.
thanks
2006-12-08 11:30:36 · 2 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
yes, with variables. does the buyer have strong financial and reserves? what is the fico? exec summary done? this will all make the picture more attractive. lenders are risk oriented and always glass half empty. you can also look at hard money, of course the interest rate won't be low. find out how badly the buyer wants to be in the property. if they are looking to build equity the the higher rate would not be a big deal. the ppp would also have some bearing on the rate. they can do a lock out to help the rate. what is the net rent on it, and next best use. hope this helps. if not email me the particulars and i will assess it if you like. highergroundfinsvc@yahoo.com
2006-12-09 05:21:47 · answer #1 · answered by MARY A 2 · 0⤊ 0⤋
I think you mean a Tier IV property.
Tier IV properties are usually less attractive to lenders.
Therefore, higher rates and lower loan-to-values allowed.
Email me if you want more info.
2006-12-08 12:38:42 · answer #2 · answered by jenay672001 3 · 0⤊ 0⤋