Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Multi-Family and Apartment Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago, 11/27/2016

User Stats

18
Posts
5
Votes
Brandon Styles
  • Licensed Investor
  • Cincinnati, OH
5
Votes |
18
Posts

Need Help Finding Financing For A Land Contract

Brandon Styles
  • Licensed Investor
  • Cincinnati, OH
Posted

Hello BP,

I'm in the middle of trying to close a deal on an 12 unit apartment building ($375,000). I'll be doing a land contract with the seller. I have a verbal commitment from the seller on the terms on the terms of the land contract which are:

Purchase price - $375,000

Down payment- $20,000

Amortized at 6.5% for 20 yrs with a balloon payment in 5 years.

Which will leave a balloon payment of $306,488.48

However, before the seller will sign the contract, he wants me to go through a pre-approval process and obtain a report from a lender.

My question is, can anyone recommend some lenders that I can go through a pre-approval process and obtain a report in order to give the seller so I can close this deal?   

Loading replies...