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Updated over 7 years ago on . Most recent reply

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13
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1
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Jeffrey Odu
  • Tucson, AZ
1
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13
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Hoe to Fund the Deal?

Jeffrey Odu
  • Tucson, AZ
Posted

Ok so i wanted to know if anyone thinks this would be good idea. I have about 200k to use as a down payment on a property, i wanted to know since i don't think i would be given a commercial loan, would it be smart for me to find someone else to assume the loan and then i go ahead a put my money down?....are there any pros or cons in this strategy?

Most Popular Reply

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9,934
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10,788
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Chris Mason
  • Lender
  • California
10,788
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9,934
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Chris Mason
  • Lender
  • California
ModeratorReplied
Originally posted by @John Thedford:

That title sure made me wonder:)
Ask @Chris Mason his thoughts. 

 Fannie Mae currently does not allow the use of projected hoe income for qualifying purposes, unless the income from the hoes appears on two years of federal tax returns. 

Due to the fact that we currently are not offering hoe-based financing, I have approximately 99 problems but a backhoe is not presently one of them. I hired a GC to dig that drainage ditch, and called it a day.

Do not fall for the witchcraft of the hoe-industrial complex that President Eisenhower warned us about!

  • Chris Mason
  • Loading replies...