Classifieds
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 8 years ago,
Lenders that play ball in Texas
Hey guys,
I am very excited about being a broker for owner finance deals. I have been studying for months. I want to connect investors with people that have bad credit. There will be a wrap-around mortgage. I plan to follow all regulations and be compliant in every law so I don't need the regulation police on this post, please.
I need help in finding lenders which I can connect with my investors. I want to be able to refer my investors to a group of lenders I have lined up already and they can get pre-approved and we can knock some deals out. I have found one so far but not done a deal with him yet. He requires 55k combined income, 700+ credit score, and 20% down. And he is offering less than 6% interest. He has worked on wrap deals before and I know that his bank will not call the note due.
But how do I find more lenders that will not call the note due? I can't ask them, or they are obligated to tell me they will call the note due. I cannot tell them what I plan to do, or they will tell me that cannot allow that. So do I have to tell a white lie about how the investors will be holding the properties as rentals? What do I do? Tyvm