Is 100% financing possible?

[Renee Ren]

I recently came across some private lenders claim they can do 100% financing of the purchase price. They only charge 4-5% interest rate and no points. The loan terms are from 3 months to 30 years(interest only). It sounds too good to be true. 

My partner is working on details with them. Everything seems good so far but I don't know whether the lender can perform. Those are lenders' name: Broadband Finance Limited and Delmar Financial Company. Anyone who has been working with those lenders before? Please kindly give your feedbacks. Thank you. 

[Ned Carey]

Frankly those terms do sound to good to be true for a professional lender. It could be a scam. A tip off is if they ask for any kind of substantial money up front. I would not pay them any money up front other than an appraisal fee.

The lenders you mention are not "private lenders" they are obviously professional lenders. Private lenders are friends family and associates that lend to you because they know and trust you. You may be able to negotiate terms like that with a true private lender. but no professional lender is going to offer terms that much better than the rest of the market.