I Mean on $110,000 home I only qualified for 90% of a loan. I Need a 2nd loan or an owner/agent to carry the 2nd . or come up with 10,000. I need a website that advertises that they are willing to carry the 2nd.
2007-03-15 13:46:00 · 4 answers · asked by joan i 1 in Business & Finance ➔ Renting & Real Estate
Don't know of a website. The mortgage broker who qualified you for 90% should know of the downpayment assistance programs that may be able to help you. The biggest catch is that the house has to appraise well over $110,000 for the deal to work. The 10% is figured into the appraised amount.
2007-03-15 13:52:22 · answer #1 · answered by Venita Peyton 6 · 0⤊ 0⤋
Are you dealing with a mortgage broker? They have access to all kinds of lenders, and what you are trying to do isn't that uncommon. A competent mortgage broker should be able to do this deal for you if you have good credit.
www.naca.com They are a non-profit housing advocacy group that does it's own fixed rate mortgages. Check them out, they might be able to give you a different type of loan.
2007-03-15 13:53:14 · answer #2 · answered by Anonymous · 0⤊ 0⤋
work with an agent who might be able to negotiate that for you with the owners of the homes you are interested in. If you choose an agent who is experiences he/she should have no problem trying to negotiate that for you. As for a website, I don't know any off hand, but try searching for "owner financing" and the town or state you want to purchase in, you might find what you are looking for. But if you are looking for homes and your agent will not ask the other agent (listing agent) if the seller would provide partial financing, then he/she isn't doing their job...I'm a licensed realtor...
2007-03-15 14:23:27 · answer #3 · answered by Olivia's MOM 1 · 0⤊ 0⤋
Your mortgage broker should be able to answer that question. If not, then you may want to find one that will.
2007-03-15 15:06:47 · answer #4 · answered by Glen W 5 · 0⤊ 0⤋