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Updated almost 2 years ago on . Most recent reply

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9
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Donald Pierson
2
Votes |
9
Posts

6-9 Month Loan - $90k For Closing Costs

Donald Pierson
Posted

Hello, I am looking for short term financing for a fix and flip.  I need an additional $90k for closing costs.  

For my area New York (lower Hudson Valley), can any one recommend a lender than can finance $90k for 9 months with no payments for 9 months using my investment property (STR) as collateral?

Investment Property:

Fixed Interest Rate 4.25%

Mortgage Balance $364,088.24 (Mkt value $625k)

Principle & Interest $1,827.56

Tax & Ins $1,189.78

Monthly payment $3,017.34

My Middle Credit Score: 720

My Debt to Income: Under 20%

Good reserves

Any feedback and recommendations are greatly appreciated!

  • Donald Pierson
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