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Updated almost 15 years ago on . Most recent reply
Rich WeesePoster
#2 Off Topic Contributor
#2 Off Topic Contributor
- Real Estate Investor
- the villages, FL
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HUD-rates, apts,terms
Rich WeesePoster#2 Off Topic Contributor
#2 Off Topic Contributor
- Real Estate Investor
- the villages, FL
Hi,
Any HUD pros out there? I bought a 154 units nearly a year ago. Sellers needed out quick, so I had my local neighborhood bank make me a loan. This was with the idea of refi to HUD after a year of seasoning. I told my bank about my plans yesterday. They don't want to lose the loan and said they'd recast it more like a HUD loan.
Its' saturday, and I've tried online to no avail. Anyone know what HUD is doing on a rate and term refi. under 3 mil. Int? amort? Balloon? I need to know what my options are before quoting something to my current lender. Thanks. Rich