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Updated over 7 years ago,

User Stats

5
Posts
1
Votes
Anthony Ivy
  • Investor
  • Chicago, IL
1
Votes |
5
Posts

How to get financing for just the closing cost on a deal

Anthony Ivy
  • Investor
  • Chicago, IL
Posted

This is not a solicitation for financing, I am inquiring about what opportunities exist in the market for deals. I just recently secured a deal to finance a multifamily building with a private lender that is willing to finance at 100% LTV. Because of the upside potential of the deal, and the high turnover sales rate of the property they agreed to finance me. The problem is the financier wants me to pay the points for the deal, and other closing cost out of pocket and I just don't have the five thousand dollars to close. Is there lenders that exist that will finance the closing cost based on a Letter of Intent, and a deal that is ready to close.

Advice is helpful.  Thank you

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